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FWP Filing
Southern Copper (SCCO) FWPFree writing prospectus
Filed: 14 Apr 10, 12:00am
Issuer: | Southern Copper Corporation (the “Issuer”) | |
Security Description: | 5.375% notes due 2020 (the “2020 notes”) | |
6.750% notes due 2040 (the “2040 notes”) | ||
Transaction Type: | SEC Registered | |
Currency: | US Dollars | |
Total Principal Amount: | The 2020 notes: US$400,000,000 | |
The 2040 notes: US$1,100,000,000 | ||
Offering Price: | The 2020 notes: 99.481% | |
The 2040 notes: 99.250% | ||
Underwriting Discount: | The 2020 notes: 0.40% | |
The 2040 notes: 0.45% | ||
Net proceeds to Issuer | The 2020 notes: US$396,324,000 | |
(before expenses): | The 2040 notes: US$1,086,800,000 | |
Maturity: | The 2020 notes: April 16, 2020 | |
The 2040 notes: April 16, 2040 | ||
Coupon: | The 2020 notes: 5.375% | |
The 2040 notes: 6.750% | ||
Benchmark Treasury: | The 2020 notes: 3.625% due February 2020 | |
The 2040 notes: 4.375% due November 2039 | ||
Benchmark Treasury Yield: | The 2020 notes: 3.818% | |
The 2040 notes: 4.684% |
Spread to Benchmark Treasury: | The 2020 notes: + 162.5 bps | |
The 2040 notes: + 212.5 bps | ||
Yield to Maturity: | The 2020 notes: 5.443% | |
The 2040 notes: 6.809% | ||
Issue Ratings1: | Baa2(Moody’s)/BBB-(S&P)/BBB(Fitch) | |
Use of Proceeds: | Net proceeds of the offering (US$1,483,124,000 million) are expected to be used for general corporate purposes, including the financing of the Issuer’s capital expenditure program | |
Interest Payment Dates: | April 16 and October 16 of each year, commencing on October 16, 2010 | |
Day Count Convention: | 30/360 | |
Trade Date: | April 13, 2010 | |
Settlement Date: | April 16, 2010 | |
CUSIP/ISIN: | The 2020 notes: | |
CUSIP: 84265V AD7 | ||
ISIN: US84265VAD73 | ||
The 2040 notes: | ||
CUSIP: 84265V AE5 | ||
ISIN: US84265VAE56 | ||
Denomination: | $2,000 and integral multiples of $1,000 in excess thereof | |
Optional Redemption: | The 2020 notes: Make-whole call at UST + 25 basis points. | |
The 2040 notes: Make-whole call at UST + 35 basis points. | ||
Listing: | Application is expected to be made to the Global Exchange Market of the Irish Stock Exchange Limited | |
Law: | State of New York | |
Joint Bookrunners and Joint Lead Managers: | Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated |
1 | Note: A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal |
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