Peruvian zinc miner Volcan Compañía Minera said it received shareholder approval to exchange its 4.375% 2026 global bonds for new secured notes and to rollover an existing syndicated loan.
The company is still negotiating the terms of the bond swap and loan refinancing, it said Monday in a securities filing.
In June, Lima-based Volcan announced plans to issue up to $475 million worth of guaranteed bullet notes due 2030 and exchange them for the 2026s. It is also looking to refinance a $400 million syndicated loan maturing next year, replacing it with a facility that comes due in 2029 and charges interest at a margin over SOFR, the firm said at the time.