STRACON Group Holding Inc. Announces Closing of US$376 Million Non-Recourse Project Financing for Perez Caldera Infrastructure Project

Executive Summary

• STRACON Group Holding Inc. closed up to US$376 million of non‑recourse project financing to fund the Pérez Caldera tailings‑infrastructure contract at Anglo American’s Los Bronces copper operation in Chile.
• The financing consists of up to US$345 million term loans (interest: daily SOFR + 3.00% per annum) and up to US$31 million debt‑service reserve letters of credit, with quarterly amortization starting 15 Oct 2027 and final maturity on 15 Oct 2030.
• The deal underscores STRACON’s infrastructure strategy, targeting ~50 % of consolidated EBITDA from the Infrastructure segment within 18–24 months, providing long‑duration cash‑flow visibility.

Key Details

• Financing Structure – Up to US$376 million total:
• Term loans: up to US$345 million.
• Debt‑service reserve letters of credit: up to US$31 million.
• Interest Rate: Compounded daily SOFR + 3.00% per annum.
• Amortization & Maturity: Quarterly amortization begins 15 Oct 2027; final maturity 15 Oct 2030.
• Arrangers & Roles:
• Natixis and Sumitomo Mitsui Banking Corp (SMBC) – Joint Lead Arrangers, Joint Bookrunners, Joint Global Coordinators.
• Banco de Crédito e Inversiones (BCI) – Senior Mandated Lead Arranger.
• SMBC – Administrative Agent.
• Project Scope: Funding the development, construction, ownership, operation and maintenance of dedicated tailings infrastructure for Anglo American’s Los Bronces copper mine in Chile under a BOOM (“build‑own‑operate‑maintain”) contract.
• Capital Structure: Maximum debt‑to‑equity ratio of 82.75 % debt to 17.25 % equity, aligning with STRACON’s policy of financing 75‑85 % of project costs through non‑recourse debt and providing the remainder as sponsor equity.
• Strategic Impact:
• Infrastructure segment expected to contribute ~50 % of consolidated EBITDA within the next 18–24 months.
• Enhances backlog, recurring revenue, and cash‑flow visibility over the contract term.
• CFO Comment (Andrés Gutiérrez Leiva): Highlighted the financing as a “defining milestone,” validating STRACON’s infrastructure strategy and demonstrating ability to structure large‑scale mining infrastructure projects under long‑duration contracts.

Notable Quotes

“The closing of this financing is a defining milestone for STRACON. It validates our Infrastructure segment strategy and confirms our ability to structure, finance and deliver large‑scale mining infrastructure under long‑duration contractual frameworks.” – Andrés Gutiérrez Leiva, Chief Financial Officer

Materiality Assessment: Material – Positive (significant financing that materially supports a major growth project and future earnings visibility).