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Southern Copper plans offering of bonds in 10-, 30-year tranches
By Andrea Heisinger
New York, April 6 - Southern Copper Corp. announced an offering of senior unsecured notes (Baa2/BBB-/BBB) in two tranches on Tuesday, a market source said.
The bond offering is in tranches with maturities in 2020 and 2040 and features a change-of-control put of 101%.t
The bonds are expected to price following a roadshow that runs from Thursday to Monday.
Bookrunners are Credit Suisse Securities, Goldman Sachs & Co. and Morgan Stanley & Co.
Proceeds are being used for general corporate purposes, including financing capital expenditures.
The copper producer has operations in Peru, Chile and Mexico and is based in Phoenix.
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