RAD assists Hudbay Minerals in public offering of common shares

Rebaza Alcazar & De Las Casas has assisted Canadian mining company Hudbay Minerals, in the closing of its public offering of common shares, on a bought deal basis, for total gross proceeds of USD 402’477,000.

This transaction closed on 24 May, with Goodmans acting as international advisor to Hudbay Minerals.

Hudbay intends to use the net proceeds of the offering to fund certain growth initiatives, including accelerating mine pre-stripping activities and mill optimisation initiatives at Copper Mountain, evaluating mill throughput improvement opportunities at Constancia (mining unit located in Peru) and New Britannia, supporting general corporate purposes, among others.

The syndicate of underwriters included RBC Capital Markets and BMO Capital Markets as Joint Bookrunners, with CIBC Capital Markets, National Bank Financial, Scotiabank and TD Securities as co-lead managers. The syndicate also included Barclays Capital, Canaccord Genuity, Bank of America Merrill Lynch, Cormark Securities, ING Bank, Haywood Securities, Raymond James, Stifel Nicolaus, Eight Capital and Paradigm Capital as co-managers.

Hudbay Minerals is a copper-focused mining company with operations in Canada, Peru and the United States, including the Constancia mine operation in Cusco, Peru, the Snow Lake operations in Manitoba, Canada, and the Copper Mountain mine in British Columbia, Canada. Hudbay’s growth portfolio includes the Copper World project in Arizona (US), the Mason project in Nevada (US), the Llaguen project in La Libertad (Peru) and expansion and exploration opportunities near its existing operations.

Goodmans’ team included partners Kari MacKay and Laura Corridore and associates Jay Piett and Jacky Jesin Neuberger.

RAD’s team included partner Luis Miguel Elías (pictured), and senior associates Josefina Arana and Fiorella Wismann.