Summary
Southern Copper Corporation (SCCO) has successfully completed a registered public offering, raising approximately U.S.$1.241 billion in net proceeds through the sale of U.S.$1.25 billion aggregate principal amount of 5.350% notes due 2036. This issuance, detailed in an 8-K filing dated June 25, 2026, aims to bolster the company's financial position and fund key strategic initiatives. The net proceeds are earmarked for significant development projects, including the Tia Maria project, capital expenditures for its Peruvian operations (SPCC), and general corporate purposes. This move signals SCCO's commitment to expanding its operations and managing its financial resources effectively to support its long-term growth strategy.
Key Highlights
- 1Completed a U.S.$1.25 billion public offering of 5.350% notes due 2036.
- 2Net proceeds of approximately U.S.$1.241 billion will be used for the Tia Maria project development.
- 3Funds will also support capital expenditure programs and general corporate purposes for Southern Peru Copper Corporation (SPCC).
- 4The offering was conducted under a Registration Statement on Form S-3 filed on June 15, 2026.
- 5Entered into an Underwriting Agreement with BofA Securities, Inc., Morgan Stanley & Co. LLC, Barclays Capital Inc., and Santander US Capital Markets LLC.
- 6The issuance is governed by an Indenture and a Seventh Supplemental Indenture, which include covenants restricting certain corporate actions like incurring liens or sale and leaseback transactions.
- 7The company issued a press release on June 25, 2026, announcing the completion of the offering.