Rebaza, Alcázar & De Las Casas advised a group of international banks, acting as initial purchasers, on the international bond offering issued by Nexa Resources S.A. –a Luxembourg based company engaged in the mineral resources industry– allowing said company to raise up to USD 600 million. The senior unsecured notes mature in 2034 and carry annual interest of 6.75%. The notes are guaranteed by Nexa Resources Cajamarquilla S.A. (Peruvian subsidiary) and Nexa Recursos Minerais S.A. (Brazilian subsidiary).
The notes were offered to qualified institutional buyers in accordance with Rule 144A under the U.S. Securities Act of 1993, as amended, and to non-U.S. persons in accordance with Regulation S under the Securities Act. The initial purchasers were BBVA Securities Inc., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, MUFG Securities Americas Inc., Mizuho Securities USA LLC, Santander US Capital Markets LLC and Scotia Capital (USA) Inc.
According to the information published on Nexa Resources’ webpage (https://ri.nexaresources.com), the proceeds of this offering are primarily to fund a cash tender offer for its existing notes due 2027 and notes due 2028 that are validly tendered and accepted for purchase pursuant to the tender offers announced on April 1, 2024, and the remainder, if any, for general corporate purposes, including liability management transactions.
Nexa Resources is a large-scale, low-cost integrated zinc producer with over 60 years of experience developing and operating mining and smelting assets in Latin America, with significant mining operations in Peru and Brazil.
Counsels to the Initial Purchasers
Simpson Tacher & Barlett LLP
Grenfel Calheiros (Partner), Marcelo Lorenzen (Associate), Douglas Ogata (Associate)
Rebaza, Alcazar & De Las Casas
Luis Miguel Elias (Partner) and Josefina Arana (Senior Associate), Fiorella Wismann (Senior Associate), Helga Irazola (Associate), Camila Briceño (Associate) and Alvaro Luna Victoria (Associate).
Machado, Meyer, Sendacz e Opice Advogados
Alessandra de Souza Pinto, Renata Augusto Passos, João Eduardo de Godoy Pereira
Counsels to Issuer
Cleary Gottlieb
Francesca L. Odell (Partner), Jonathan Mendes (Counsel), Raisa Reggiori and Nicole Mueller
Elvinger Hoss Prussen
Karl Pardaens (Partner), Cristina Benoig (Counsel), Benoit Nerriec (Senior Advisor), Lorenzo Cappelli (Associate), Octavio Lanzi (Lawyer)
Pinheiro Guimarães
Francisco J. Pinheiro Guimarães, Ivia Moura, Cristina Tomiyama, Fernando John Friedmann, Janilson de Oliveira, Murilo Begha
Estudio Rodrigo & Medrano
Jean Paul Chabaneix (Partner), Sebastian Briceño (Associate), Jimena Ayala (Associate), Soleil Castro (Associate), Mariana Delgado, (Associate)