Estudio Echecopar, member firm of Baker McKenzie International, acted as Peruvian counsel to Banco BTG Pactual S.A. - Cayman Branch, Citigroup Global Markets Inc, and Santander Investment Securities Inc., as Dealer Managers, in connnection with Volcan Compañía Minera S.A.A.´s tender offer for cash to purchase USD 125´000,000 aggregate amount of its outstanding 5.375% Notes due 2022 (the “Tende Offer”).
The proceeds for the Tender Offer were obtained from Volcan Compañía Minera S.A.A.´s offer, issuance and sale of its 4.375% Senior Notes due 2026 for an aggregate principal amount of USD 475,000,000 pursuant Rule 144A and Regulation S of the U.S. Securities Act of 1933, as amended.
The team that advised Banco BTG Pactual S.A. - Cayman Branch, Citigroup Global Markets Inc, and Santander Investment Securities Inc. was led by partners Pablo Berckholtz and Alonso Miranda and senior associate Renzo Luna.
Volcan is a diversified Peruvian mining company and a major global producer of zinc, silver and lead. Volcan began operations in the early 1940s and have consistently ranked among the largest producers of these metals globally every year from 2006 to 2019, according to Wood Mackenzie and GFMS. Volcan was the second-leading producer of zinc and lead and the third-leading producer of silver in Peru in the first nine months of 2020, according to the Peruvian Ministry of Energy and Mines.