Mineros meets with investors regarding $400M offering

Executive Summary

• Mineros SA is launching an investor roadshow for a $400-million offering of five-year senior unsecured notes, with proceeds designated for capital expenditures and general corporate purposes.
• The company has simultaneously entered into a commitment letter for a senior revolving credit facility with a principal amount not exceeding $100 million, of which $80 million is currently committed by three banking partners.
• The notes will be issued by Mineros Netherlands BV, guaranteed by Mineros and its subsidiaries, while the credit facility borrower is also expected to be Mineros Netherlands.

Key Details

• Senior Notes Offering:
  • Target Amount: $400 million.
  • Tenor: Five years.
  • Issuer: Mineros Netherlands BV.
  • Guarantors: Mineros SA, Hemco Mineros Nicaragua SA, and Mineros Aluvial SAS BIC.
  • Terms: Senior unsecured general obligations; aggregate principal amount, interest rate, and other terms to be determined at pricing based on market conditions.
  • Use of Proceeds: Financing capital expenditures and general corporate purposes.
• Senior Revolving Credit Facility:
  • Commitment Letter Signed: With Citigroup Global Markets Inc., Banco Santander SA, and Royal Bank of Canada.
  • Total Facility Size: Not exceeding $100 million.
  • Committed Amount: $80 million committed by the three signatory banks.
  • Tenor: Three years.
  • Interest Rate: Secured Overnight Financing Rate (SOFR) plus 4.00% per annum.
  • Borrower: Mineros Netherlands (expected).
  • Guarantors: Mineros and its subsidiaries (same as notes).
  • Security: Expected to be secured or unsecured.
  • Status: Subject to customary conditions precedent, including negotiation and execution of definitive documentation.

Notable Quotes

• None provided in the text.