Volcán clinches oversubscribed tender, capital raise to come
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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