Volcan gives early results for oversubscribed tender offer

Chicago, Feb. 16 – Volcan Compania Minera SAA announced the early tender results of its oversubscribed offer for its $535,264,000 outstanding 5 3/8% senior notes due 2022 (Cusip: 92863UAA4, P98047AA4), according to a news release.

The company was offering to purchase up to $120 million of the notes, but has increased the offer to $125 million.

Noteholders tendered $353,901,000 face amount of the notes by the early tender deadline of 5 p.m. ET on Feb. 12.

Since the offer is oversubscribed, the company will apply a proration factor of 35.48% to the tendered notes.

Withdrawal rights have expired.

Early settlement is schedule for Feb. 17.

Holders who tendered notes prior to the early tender deadline will receive the total consideration of $1,037.50 per $1,000 of notes, which includes an early tender premium of $30 per $1,000 of notes. Interest will also be paid.

The offer was expected to expire at 11:59 p.m. ET on March 1.

Because the offer has been oversubscribed, no further notes tendered will be accepted for purchase.

Global Bondholder Services Corp. (212 430-3774, 866 470-3700; contact@gbsc-usa.com) is the tender and information agent.

Banco BTG Pactual SA- Cayman Branch (212 293-4600, ol-dcm@btgpactual.com), Citigroup Global Markets Inc. (800 558-3745, 212 723-6106) and Santander Investment Securities Inc. (855 404-3636, 212 940-1442) are dealer managers.

Volcan is a mining company based in Lima, Peru.

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