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 Initial Purchasers and Joint Bookrunners, in connnection with 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 US$475,000,000 under Rule 144A and Regulation S of the Securities Act of 1933.
Net cash proceeds from the offering will be used to purchase for cash up to US$125´000,000 aggregate principal amount of Volcan´s outstanding 5.375% Senior Notes due 2022 and to fully repay its credit facilities.
The team that advised Banco BTG Pactual S.A. - Cayman Branch, Citigroup Global Markets Inc. was led by partners Pablo Berkcholtz, Alonso Miranda, Ina Drago; senior associate Renzo Luna; and associate Oscar Ballon.
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.