Buenaventura issues inaugural 144A / Reg S offering of US $ 550 million senior unsecured notes due 2026
Lima, Peru – (COMMERCIAL THREAD) –Minas Buenaventura SAA Company (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly traded precious metals mining company, today announced the successful issuance of its bonds. senior unsecured (the “Bonds”) maturing in 2026 for a total amount of US $ 550 million. The notes mature on July 23, 2026 and bear a coupon of 5.500% per annum.
The Securities were offered by private placement to qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to persons non-US in accordance with Regulation S under the Securities Act. The Notes are fully and unconditionally guaranteed jointly and severally by Compañía Minera Condesa SA, Inversiones Colquijirca SA, Procesadora Industrial Río Seco SA and Consorcio Energético Huancavelica SA
Leandro Garcia, CEO of Buenaventura, said: “Buenaventura intends to use the net proceeds of this offering to prepay SUNAT’s claim in full. The transaction will help strengthen the Company’s credit profile, extend maturities, reduce financing costs and free up lines of credit. The success of our bond issuance is an important reflection of investor confidence in our business, as well as in Peru’s economic recovery and future stability.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, and there will be no sale of such securities, in any state or jurisdiction in which such an offer, solicitation or sale would be illegal before registration. or qualification under the securities laws of any state or jurisdiction. The Notes have not been registered under the Securities Act or any applicable state securities law, and have been offered only to qualified institutional buyers in accordance with Rule 144A promulgated under the Securities Act and in outside the United States to non-American persons in accordance with the regulations. S under the Securities Act. Unless so registered, the Securities may not be offered or sold in the United States except as an exemption from the registration requirements of the Securities Act and applicable state securities laws.
Compañía de Minas Buenaventura SAA is the largest publicly traded Peruvian precious and base metals company and one of the main holders of mineral rights in Peru. The Company is engaged in the exploration, mining development, processing and trading of gold, silver and other base metals through wholly owned mines and through its participation in joint venture projects. . Buenaventura currently operates several mines in Peru (Orcopampa *, Uchucchacua *, Julcani *, Tambomayo *, El Brocal, La Zanja and Coimolache).
The Company owns 43.65% of Minera Yanacocha SRL (a partnership with Newmont Mining Corporation & Sumitomo Corporation), a major producer of precious metals and 19.58% of Sociedad Minera Cerro Verde, a major producer of Peruvian copper (a partnership with Freeport-McMorRan Inc., Sumitomo Corporation and Sumitomo Metals).
To obtain a printed version of the Company’s Form 20-F 2018, please contact the individuals listed above or download a PDF file from the Company’s website.
Operations 100% owned by Buenaventura
Note on forward-looking statements
This press release may contain forward-looking information (as defined in the US Private Securities Litigation Reform Act of 1995) that involves risks and uncertainties, including those relating to the costs and expenses of the Company, Yanacocha and Cerro Verde, exploration results, continuous improvement in operational efficiency, current market prices for gold, silver, copper and other metals mined, success of joint ventures, estimates of future exploration , development and production, plans of subsidiaries for capital expenditure, estimates of reserves and Peruvian policies, economic, social and legal developments. These forward-looking statements reflect the Company’s views with respect to the future financial performance of the Company, Yanacocha and Cerro Verde. Actual results could differ materially from those projected in forward-looking statements due to a variety of factors discussed elsewhere in this press release.