Capstone Copper raises $600 million in senior notes

Capstone Copper Corp. has announced it will issue $600 million in senior notes, up from a previously planned $500 million. The senior notes carry an interest rate of 6.750% and will mature in 2033. The interest will be paid every six months. The settlement for the notes is expected around March 25, 2025, pending usual conditions. The proceeds from this offering will be used to pay off existing debts related to the company's mining projects. Capstone Copper will also reduce debt on its secured revolving credit facility and support general business expenses. These notes will be available only to qualified institutional buyers in the United States and to non-U.S. buyers outside the U.S. They will not be registered under U.S. securities law. As a result, these notes cannot be sold in the U.S. without proper registration or exemptions. Capstone Copper is based in Vancouver and operates several copper mines in North and South America. The company aims for sustainable production growth while maintaining high profit levels and responsible mining practices. In the press release, the company included forward-looking statements regarding its plans and financial strategies, acknowledging the uncertainties involved. These statements reflect Capstone's current expectations but could change due to various risks and external factors.