Summary
Southern Copper Corporation (SCCO) announced on June 17, 2026, the pricing of $1.25 billion in 5.350% fixed rate senior unsecured notes due 2036. This debt offering, expected to close around June 24, 2026, represents a significant move to secure long-term financing for key operational and developmental initiatives within its Peruvian subsidiary, Southern Peru Copper Corporation (SPCC). The net proceeds are earmarked for the crucial development of the Tia Maria project, the broader capital expenditure program of SPCC, and general corporate purposes including working capital. This strategic financing underscores SCCO's commitment to expanding its operations and supporting its future growth, particularly in Peru, which is a core region for the company's copper production and development pipeline.
Key Highlights
- 1Southern Copper priced $1.25 billion in 5.350% fixed rate senior unsecured notes due 2036.
- 2The debt offering is expected to close on or about June 24, 2026, subject to customary conditions.
- 3Proceeds will be used by Southern Peru Copper Corporation (SPCC) for the development of the Tia Maria project.
- 4Funds will also support SPCC's capital expenditure program.
- 5General corporate purposes of SPCC, including working capital, are also beneficiaries of the proceeds.
- 6This issuance provides SCCO with significant long-term debt capital at a fixed rate.
- 7The financing directly supports the growth and development of SCCO's Peruvian operations.