Cobre del Mayo, S.A. de C.V. Announces Exchange Offer for its Existing Senior Secured Notes
[City, State] – July 22, 2025 – Cobre del Mayo, S.A. de C.V. today announced the commencement of an exchange offer, inviting holders of its existing 10.750% Senior Secured Notes due 2027 (the “Existing Notes”) to exchange them for new 9.750% Senior Secured Notes due 2029 (the “New Notes”). This strategic move aims to enhance the company’s capital structure and extend its debt maturity profile.
The exchange offer is being made pursuant to an offering memorandum and consent solicitation statement dated July 22, 2025. This document provides comprehensive details regarding the terms and conditions of the offer, including the exchange ratio, expiration date, and any associated consent solicitation for certain amendments to the indenture governing the Existing Notes.
According to the announcement, Cobre del Mayo is offering holders of the Existing Notes the opportunity to receive a specified amount of New Notes for each principal amount of Existing Notes validly tendered and accepted for exchange. The New Notes will carry a coupon of 9.750% per annum and will mature in 2029, offering a longer term compared to the Existing Notes.
This initiative represents a proactive step by Cobre del Mayo to optimize its financial position. By extending the maturity of a portion of its outstanding debt, the company aims to reduce near-term refinancing risks and provide greater financial flexibility for its ongoing operations and future growth strategies. The exchange offer is also coupled with a consent solicitation, seeking the consent of noteholders to certain proposed amendments to the indenture governing the Existing Notes, which may facilitate the overall restructuring efforts.
The success of the exchange offer is contingent upon certain conditions being met, including the tender of a minimum principal amount of Existing Notes and the receipt of requisite consents for the proposed indenture amendments. The company has engaged [Name of Underwriter/Dealer Manager, if mentioned in the release, otherwise omit or state generically] as the dealer manager for the exchange offer.
This announcement marks a significant development for Cobre del Mayo and its stakeholders, demonstrating a commitment to financial prudence and strategic capital management. Further details regarding the terms of the exchange offer and the consent solicitation can be found in the official offering memorandum and consent solicitation statement, which is available to eligible holders.
This article is based on the information provided in the PR Newswire release dated July 22, 2025. For complete details, please refer to the original announcement.
Cobre del Mayo, S.A. de C.V. Announces Exchange Offer
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