Minsur S.A. Extends Tender Offer for Any and All of Its 6.250% Senior Notes Due 2024
October 25, 2021 at 08:34 am EDT
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Minsur S.A. announced that it has extended the expiration time for its previously announced tender offer for cash for any and all of its outstanding 6.250% Senior Notes due 2024 (CUSIP Nos. 60447K AA8 and P6811T AA3). The Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated October 18, 2021 as amended by this press release, and the related Notice of Guaranteed Delivery. Accordingly, subject to the terms and conditions of the Offer, holders of the Notes must validly tender and not validly withdraw their Notes at or before 5:00 p.m., New York City time (4:00 p.m., Lima time), on October 25, 2021, unless such date and time are extended or the Offer is earlier terminated by Minsur in its sole discretion, subject to applicable law to receive USD 1,085 for each USD 1,000 in principal amount of Notes. In addition to the Consideration, Holders whose Notes are accepted for purchase will receive accrued and unpaid interest on the Notes from the last interest payment date for the Notes to, but not including, the Settlement Date. Subject to the exceptions set forth in the indenture governing the Notes, dated February 7, 2014, Minsur will also pay additionalamounts such that, after any withholding taxes, Holders will receive the amount that they would have received if there had not been any withholding. Minsur anticipates that it will accept for purchase Notes validly tendered and not validly withdrawn at or before the Expiration Time and pay for such accepted Notes promptly following the Expiration Time and the Guaranteed Delivery Date . The Settlement Date for the Offer is expected to occur on October 29, 2021, which is the fourth business day after the Expiration Time, unless the Offer is extended or earlier terminated by Minsur in its sole discretion, subject to applicable law. Tendered Notes may be withdrawn at any time at or before 5:00 p.m., New York City time (4:00 p.m., Lima time), on October 25, 2021, unless extended. Minsur's obligation to accept for purchase and to pay for Notes validly tendered and not validly withdrawn pursuant to the Offer is subject to the satisfaction or waiver, in Minsur's discretion, of certain conditions, which are more fully described in the Offer Documents, including the consummation of Minsur's concurrent offering of newnotes. However, the Offer is not conditioned on any minimum amount of Notes being tendered. As of 5:00 p.m. (New York City time) on October 22, 2021, according to information received from D.F. King & Co. Inc., the Information and Tender Agent for the Offer, USD 46,274,000, or approximately 24.82% of the principal amount outstanding, of the Notes was validly tendered, and not validly withdrawn. Minsur reserves the right to amend, terminate or withdraw the Offer, including if the FinancingCondition or other conditions are not satisfied, subject to applicable law. In the event of a termination or withdrawal of the Offer, Notes tendered and not accepted for purchase pursuant to the Offer will be promptly returned to the tendering Holders.
Minsur SA is a Peru-based mining company primarily engaged in the exploitation, smelting, refining and commercialization of tin. The Companyâs facilities include the San Rafael Mine, which is located in the department of Puno, as well as a smelting and refining plant located in Pisco. Through its subsidiaries, the Company is active in the exploration of other mineral deposits and has also operations established in Chile and Brazil. As of December 31, 2011, the Company owned such subsidiaries as Minera Latinoamericana SAC, Cumbres Andinas SA, Compania Minera Barbastro SA, Minera Sillustani SA, Mineracao Taboca SA and Inversiones Cordillera del Sur Ltda, among others. In addition, Inversiones Breca SA was the Companyâs majority shareholder with the whole stake of total share capital.