Southern Copper Closes $1.25B Notes Offering at 5.35% to Fund Key Projects
SCCO has more than doubled off its 52-week low of $85.513 on light trading volume (0.3× avg).
Summary
Southern Copper has completed its $1.25 billion offering of 5.350% notes due 2036, generating approximately $1.241 billion in net proceeds. This capital raise, which was previously priced and finalized in mid-June as per earlier SEC filings, will fund the company's SPCC projects, including the Tia Maria project, capital expenditures, and general corporate purposes. The successful completion provides significant funding for strategic growth initiatives, particularly for the Tia Maria project which has faced prior regulatory challenges.
At the time of this announcement, SCCO was trading at $175.45 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $146.4B. The 52-week trading range was $85.51 to $221.67. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.