Southern Copper Prices $1.25B Notes at 5.35% to Fund Key Projects
SCCO has more than doubled off its 52-week low of $85.513.
Summary
Southern Copper priced $1.25 billion in senior unsecured notes with a 5.35% interest rate, maturing in 2036. This follows the company's mixed shelf offering filing on June 15th and subsequent SEC filings on June 16th and 17th regarding the pricing and finalization of the notes. The proceeds are designated for the development of the Tía María project, capital expenditures for Southern Peru Copper Corporation (SPCC), and general corporate needs, which is a crucial step for advancing these projects. J.P. Morgan also raised its price target for SCCO to $131.50 from $127, while maintaining an underweight rating. The closing of the notes offering is expected around June 24, 2026.
At the time of this announcement, SCCO was trading at $192.83 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $159.9B. The 52-week trading range was $85.51 to $221.67. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.