Hudbay Minerals Inc T.HBM

Pricing

[Unicorn9000]

4.50% from 7.625%. Wow that's a big discount.

good savings. Good job Hudbay

[Ridgeback]

Event Hudbay announces pricing on $600 million notes offering. Impact: SLIGHTLY POSITIVE Hudbay announced that it has priced an offering of $600 million aggregate principal amount of 4.50% senior notes due 2026. The notes will be issued at 100% of their principal amount, providing the company with gross proceeds of $600 million. The offering is expected to close on March 8, 2021, subject to

[Unicorn9000]

at 3.50 = 150 million FCF at 4.00 = 250 million FCF at .50 difference , it will have a difference of 100 million in FCF.... looks wrong but I like their math.

[cat2cat]

Nice. I wonder if the free cash flow increase is copper only. If it does not include gold etc I wonder what the total estimated fcf would be? Cat

[cat2cat]

Hudbay's average realized copper price was $2.86/lb in 2020, compared with $2.73/lb in 2019. Current spot prices are around $3.99/lb, which compares with Fitch's assumptions of $2.72/lb in 2021, $2.81/lb in 2022 and $2.90/lb in 2023. Looks to me like FITCH is seriously undervaluing copper. Cat

[houbahop]

So at an average of $4.50 = $350M FCF? Futures 2021 strip at $4.30- $4.35 right now from March to December.