Buenaventura Closes $650M Senior Unsecured Notes Offering
Ticker: BVN · Form: 6-K · Filed: Feb 4, 2025 · CIK: 1013131
Sentiment: neutral
Topics: debt-offering, senior-notes, financing
TL;DR
Buenaventura just closed a $650M debt offering for notes due 2032.
AI Summary
Compañía de Minas Buenaventura S.A.A. announced on February 4, 2025, the closing of an offering of US$650 million in Senior Unsecured Notes due 2032. These notes were issued under Rule 144A and Regulation S, indicating they were offered to qualified institutional buyers and non-U.S. persons, respectively. The company, also known as Buenaventura Mining Company Inc., is based in Lima, Peru.
Why It Matters
This debt issuance provides Buenaventura with significant capital, potentially for expansion, refinancing, or operational needs, impacting its financial structure and future investment capacity.
Risk Assessment
Risk Level: medium — Issuing unsecured debt increases financial leverage and interest obligations, which can be a medium risk depending on the company's cash flow and market conditions.
Key Numbers
- US$650 million — Senior Unsecured Notes Offering (Total principal amount raised by Buenaventura.)
Key Players & Entities
- Compañía de Minas Buenaventura S.A.A. (company) — Issuer of the notes
- Buenaventura Mining Company Inc. (company) — English name of the issuer
- US$650 million (dollar_amount) — Principal amount of the notes offered
- 2032 (date) — Maturity year of the notes
- February 4, 2025 (date) — Date of the announcement and closing
FAQ
What is the interest rate on the US$650 million Senior Unsecured Notes?
The filing does not specify the interest rate for the notes.
What will Buenaventura use the proceeds from the notes offering for?
The filing does not detail the specific use of proceeds from the offering.
What is the maturity date of the Senior Unsecured Notes?
The Senior Unsecured Notes are due in 2032.
Under which regulations were these notes offered?
The notes were offered under Rule 144A and Regulation S.
When was the offering of Senior Unsecured Notes announced and closed?
The offering was announced and closed on February 4, 2025.
Filing Stats: 800 words · 3 min read · ~3 pages · Grade level 12.6 · Accepted 2025-02-04 16:26:26
Key Financial Figures
- $650 million — ntura Issues 144A/Reg S Offering of US$650 million Senior Unsecured Notes Due 2032 Lima,
Filing Documents
- tm255501d1_6k.htm (6-K) — 19KB
- tm255501d1_6kimg01.jpg (GRAPHIC) — 8KB
- tm255501d1_6kimg02.jpg (GRAPHIC) — 43KB
- 0001104659-25-009131.txt ( ) — 91KB
From the Filing
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of February 2025 Commission File Number: 001-14370 COMPANIA DE MINAS BUENAVENTURA S.A.A. (Exact name of registrant as specified in its charter) BUENAVENTURA MINING COMPANY INC. (Translation of registrant’s name into English) AV. BEGONIAS NO. 415, 19TH FLOOR, SAN ISIDRO, LIMA, PERU (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes No Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes No Buenaventura Issues 144A/Reg S Offering of US$650 million Senior Unsecured Notes Due 2032 Lima, Peru, February 4, 2025 – Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, announced today the successful issuance of its senior unsecured notes (the “Notes”) due 2032 in an aggregate amount of US$650 million. The Notes mature on February 4, 2032 and bear interest at a rate of 6.800% per annum. The Notes were offered by means of a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes are fully and unconditionally guaranteed jointly and severally by Inversiones Colquijirca S.A., Procesadora Industrial Río Seco S.A. and Consorcio Energético Huancavelica S.A. Buenaventura intends to use the net proceeds from this offering to refinance its outstanding 5.500% Senior Notes due 2026 and for general corporate purposes. This transaction will contribute to strengthening the Company’s credit profile and extending maturities. The success of our bond issuance is an important reflection of investors’ confidence in our Company. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor will there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to 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 laws, and have been offered only to qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. Unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and any applicable state securities laws. Company Description Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, La Zanja*, El Brocal and Coimolache). The Company owns 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer (a partnership with Freeport-McMorRan Inc. and Sumitomo Corporation). For a printed version of the Company’s 2023 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site. (*) Operations wholly owned by Buenaventura Note on Forward-Looking Statements This press release may contain forward-looking information (as defined in the U.S. Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including those concerning Cerro Verde’s costs and expenses, results of exploration, the continued improving efficiency of operations, prevailing market prices of gold, silver, copper and other metals mined, the success of joint ventures, estimates of future explorations, development and production, subsidiaries’ plans for capital expenditures, estimates of reserves and Peruvian political, economic, social and legal developments. These forward-looking statements reflect the Company’s view with respect to Cerro Verde’s future financial perf