Autlan Places $40m 5-Year

Mexican mining company Compania Minera Autlan has sold $40m in 5-year bonds at 9.5% to refinance debt. The notes have 18 months’ grace and are backed by exports and inventory. “This transaction is aligned with the company’s financial strategy of maintaining low leverage and diversifying funding sources,” the borrower says. Autlan says a portion of proceeds will be used to prepay debt and close derivatives positions, while the remainder could be invested in new projects. Credit Suisse was the lead.