LIMA, Peru--(BUSINESS WIRE)--Compañia de Minas Buenaventura S.A.A. (“Buenaventura” or “the Company”) (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru’s largest publicly-traded precious metals mining company, today announced the successful refinancing of a US$ 275 million syndicated loan facility- arranged by joint bookrunners and lead arrangers BBVA, BCP/Credicorp Capital and Itaú- extending the Company’s current maturities at a reduced rate of interest while improving other loan-related financial conditions.
Victor Gobitz, Buenaventura’s CEO, commented: "This recent round of refinancing, achieved despite the challenges of the current COVID-19 environment, provides Buenaventura with greater financial flexibility and improved terms while further diversifying our capital structure and strengthening our balance sheet. The new term loan increases both the capacity and overall tenor of our debt. Buenaventura received strong support for the refinancing, a testament to the strength of our business and medium- to long-term growth profile."
Maturity for the new loan facility has been set for a new five-year term loan with a 30-month grace period, with semi-annual installments starting in October 2022. The rate has been reduced to Libor (3m) + 190 bps from Libor (3m) + 215 bps.
Company Description
Compañía de Minas Buenaventura S.A.A. is Peru’s largest, publicly traded precious and base metals Company and a major holder of mining rights in Peru. The Company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects. Buenaventura currently operates several mines in Peru (Orcopampa*, Uchucchacua*, Julcani*, Tambomayo*, El Brocal, La Zanja and Coimolache).
The Company owns 43.65% of Minera Yanacocha S.R.L (a partnership with Newmont Mining Corporation), an important precious metal producer and 19.58% of Sociedad Minera Cerro Verde, an important Peruvian copper producer.
For a printed version of the Company’s 2018 Form 20-F, please contact the persons indicated above, or download a PDF format file from the Company’s web site. (*) Operations wholly owned by Buenaventura
