Hudbay Prices US$52M 4.50% Copper World Bonds for Arizona Project
HBM•Hudbay Minerals priced US$52 million of 4.50% Arizona Industrial Development Authority revenue bonds for Copper World, with a mandatory tender date of July 2, 2036 and closing on June 24, 2026. Proceeds will finance eligible expenditures, capitalized interest and costs under a loan guaranteed by Hudbay and its subsidiaries.
1. Bond Pricing Details
On June 17, Hudbay Minerals priced US$52 million of 4.50% Arizona Industrial Development Authority Solid Waste Disposal Revenue Bonds (Series 2026A) for its Copper World project, with an initial mandatory tender date on July 2, 2036 and closing expected June 24, 2026.
2. Use of Proceeds and Terms
Proceeds will be lent to Copper World LLC to finance, reimburse and refinance eligible expenditures at the Pima County, Arizona project, cover capitalized interest and related costs, under a loan agreement requiring scheduled principal, premium and interest payments.
3. Guarantee and Financial Impact
Hudbay and certain subsidiaries will guarantee the Copper World Bonds obligations, integrating the US$52 million debt into Hudbay’s secured obligations and potentially affecting leverage measures and credit metrics.
