Canada's HudBay Minerals starts roadshow for $400 million eight-year secured notes

By Paul A. Harris

Portland, Ore., May 14 - Toronto-based HudBay Minerals Inc. will conduct a roadshow through Friday for a $400 million offering of eight-year senior notes (expected ratings B3/B), according to a syndicate source.

Bank of America Merrill Lynch is the bookrunner.

CIBC World Markets, Scotia Capital, TD Securities, Credit Suisse Securities (USA) LLC, RBC Capital Markets, NBCF, SG CIB, Cormark, GMP, Macquarie and Stifel, Nicholas are the co-managers.

The Rule 144A and Regulation S for life notes come with four years of call protection and feature a 101% poison put.

The integrated mining company plans to use the proceeds for general corporate purposes, as well as for development projects in Manitoba and, if approved, the development of the Constancia project.

HudBay Minerals produces copper concentrate containing copper, gold and silver. The company also produces zinc metal.

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