Yanacocha Sells $100 Million Bonds

Peruvian gold mining company Yanacocha has sold $100 million of bonds in the local market. The bonds were issued in two series, each with a maturity of 10 years. The first series, totaling $58 million, were sold with a fixed coupon rate of 7%; the second, totaling $42 million, were sold with an interest rate of Libor plus 1.4375%. Yanacocha, which produces around half of Peru’s gold output, is owned by Newmont Mining Corp of the US. It is Latin America’s largest gold producer. The bonds were placed by local firm Credibolsa.