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Emerging MarketsEM LatAm

Volcán clinches oversubscribed tender, capital raise to come

Peru, metal, zinc, mining, LatAm, Volcan, 575

Peruvian mining company Volcán said on Saturday that holders of around two thirds of its $535.264m 5.375% 2022 bond had participated in a tender offer for the issue. But the borrower will only accept 35.5% of the amount tendered, and will use the majority of the proceeds of its recent five year bond issue to pay back a bank loan also maturing next year.

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