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A&O Shearman counsels Peruvian mining company Volcan on USD765 million debt refinancing
A&O Shearman advised Peruvian mining company Volcan Compañía Minera S.A.A. and its subsidiaries in connection with a comprehensive refinancing plan to improve the company’s liquidity position and capital structure.
The transactions involved approximately USD765 million in debt and included an exchange offer and consent solicitation of its USD365 million 4.375% Senior Notes due 2026 for the newly issued 8.750% Senior Secured Notes due 2030, and the refinancing of Volcan’s USD400 million senior term loan facility due in 2026 into a secured loan with an extended final maturity date in 2029.
Volcan is a Peruvian polymetallic mining company with operations and assets located in the central mountains of the Peruvian Andes.
The A&O Shearman team was led by partners Mark Shapiro (Restructuring-NY), Alejandro Gordano (Capital Markets-NY), Denise Grant (Finance-NY), Robin Spigel (Restructuring-NY) and Lorenz Haselberger (Tax-NY), and the team also included Antonia Stolper (Capital Markets-NY), Gabriela Laufer (Capital Markets-SP), Hunter Steitle (Capital Markets-NY), Carter Clements (Project Development & Finance-DC), Bilyana Belcheva (Project Development & Finance-NY), Moises Mizrachi (Project Development & Finance-NY), Jacob Mezei (Restructuring-NY), Noah Blum (Restructuring-NY), Jorge Coronel (Restructuring-NY): Daniel Kachmar (Tax-DC), Paul Schreiber (Investment Funds-NY), Tom Majewski (Investment Funds-NY) and Stephanie Li (Investment Funds-DC).
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