- Ero Copper (NYSE:ERO) to offer $400M of senior unsecured notes due 2030.
- Interest rate and other terms will be determined at pricing.
- The company intends to use the net proceeds from this offering, together with cash on hand, to repay the outstanding balance under its senior secured revolving credit facility of approximately $50M, for capital expenditures related to the construction of the Boa Esperança Project, which is expected to commence in Q2 2022.
- Conditioned on the successful closing of the proposed notes offering, the company expects to reduce the size of its senior secured revolving credit facility from $150M to $75M.