Hudbay Minerals’ $600 Million Notes Offering


Goodmans, Sullivan & Cromwell, Rebaza, Alcázar & De Las Casas, Stikeman Elliott and Latham & Watkins advised on the transaction

Hudbay Minerals Inc. (TSX, NYSE:HBM) completed its previously announced offering of US$600 million aggregate principal amount of 6.125% senior notes due 2029 (the “New Notes”). The New Notes will be governed by an indenture, dated as of September 23, 2020, among the company, the subsidiaries of the company party thereto as guarantors and U.S. Bank National Association, as trustee.

Hudbay plans to use the net proceeds from the offering of the New Notes to fund the company’s previously announced redemption of all of its outstanding US$400 million aggregate principal amount of 7.250% senior notes due 2023 (the “2023 Notes”), pay any related premium, costs and expenses and for general corporate purposes.

Barclays Capital acted as representative of the Initial Purchasers.

Goodmans advised Hudbay Minerals Inc. with Kari MacKay (Picture), Celia Rhea, David Coll-Black, Alan Bowman, Danielle Levesque and Laura Magisano.

In US, Sullivan & Cromwell advised Hudbay Minerals Inc. with John E. Estes, Jeffrey D. Hochberg, Saúl Brander, Megan E. Colville, Rebekah Kostelak, Audrey Cho and Zachary Feldman.

In Perù, Rebaza, Alcázar & De Las Casas advised Hudbay Minerals Inc. with Luis Miguel Elías, Ana María Sánchez, Carolina Meneses, Pablo León Puccio and Valeria Sánchez Meléndez.

Stikeman Elliott in Canada and Latham & Watkins in US advised Barclays Capital Inc. on the transaction.

Involved fees earner: Alan Bowman – Goodmans; David Coll-Black – Goodmans; Kari MacKay – Goodmans; Laura Magisano – Goodmans; Celia Rhea – Goodmans; Luis Miguel Elías – Rebaza Alcazar & De Las Casas Abogados Financieros; Pablo León – Rebaza Alcazar & De Las Casas Abogados Financieros; Carolina Meneses – Rebaza Alcazar & De Las Casas Abogados Financieros; Ana María Sánchez – Rebaza Alcazar & De Las Casas Abogados Financieros; Valeria Sánchez – Rebaza Alcazar & De Las Casas Abogados Financieros; Saul Brander – Sullivan & Cromwell; Audrey Cho – Sullivan & Cromwell; Megan Colville – Sullivan & Cromwell; John Estes – Sullivan & Cromwell; Zachary Feldman – Sullivan & Cromwell; Jeffrey Hochberg – Sullivan & Cromwell; Rebekah Kostelak – Sullivan & Cromwell;

Law Firms: Goodmans; Rebaza Alcazar & De Las Casas Abogados Financieros; Sullivan & Cromwell;

Clients: HudBay Minerals Inc.;

Author: Ambrogio Visconti