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| Home : HudBay Announces Pricing for US$500,000,000 Senior Unsecured Notes |
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Sep 07
2012 |
HudBay Announces Pricing for US$500,000,000 Senior Unsecured Notes |
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TORONTO, ONTARIO--(Marketwire - Sept. 6, 2012) - HudBay Minerals Inc. ("Hudbay" or the "company") (TSX:HBM)(NYSE:HBM) today announced that it has priced an offering of US$500 million aggregate principal amount of 9.50% senior unsecured notes due 2020 (the "Notes"). In response to the market reception for the offering, the company upsized the offering from US$400 million to US$500 million. The Notes were priced at 100 percent of the aggregate principal amount, providing the company with gross proceeds of US$500 million and will yield 9.50 percent to maturity. The offering is expected to close on or about September 13, 2012, subject to customary closing conditions. Hudbay plans to use the net proceeds from the offering for general corporate purposes and the development of its Lalor and Reed projects in Manitoba and its Constancia project in Peru. Upon completion of the offering, Hudbay intends to discontinue syndication of its previously announced US$600 million credit facility and retain its existing US$300 million credit facility. |
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| Source:http://www.marketwire.com/mw/release.do?id=1698498&sourceType=3 |
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