HudBay plans to price $150 million tap of 9½% notes due 2020 Tuesday

By Paul A. Harris

Portland, Ore., June 10 - HudBay Minerals Inc. held an investor call on Monday to discuss a planned $150 million add-on to its 9½% senior notes due Oct. 1, 2020, according to an informed source.

The deal is set to price on Tuesday.

Jefferies & Co. is the bookrunner for the Rule 144A and Regulation S with registration rights transaction.

The notes will be callable on Oct. 1, 2016 at 104.75.

The company plans to use proceeds for general corporate purposes and to fund the development of its Lalor and Reed projects in Manitoba and its Constancia project in Peru.

The Toronto-based integrated mining company priced the original $500 million issue at par on Sept. 6, 2012.

Upon registration, the add-on notes will be fungible with the existing notes.

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