Hudbay Prices US$52 Million of Municipal Bonds for Copper World Project
Hudbay Minerals Inc. has priced an offering of US$52 million in municipal bonds, issued by the Arizona Industrial Development Authority, to finance its Copper World project in Pima County, Arizona.
TORONTO – June 17, 2026 – Hudbay Minerals Inc. announced today the pricing of US$52 million in aggregate principal amount of municipal bonds, identified as the Copper World Bonds. The bonds carry a fixed interest rate of 4.50% and are issued by the Arizona Industrial Development Authority.
The proceeds from the bond offering are designated to fund, reimburse, and refinance certain eligible expenditures at the Copper World project located in Pima County, Arizona. These expenditures include financing capitalized interest and other associated costs related to the bonds.
Copper World LLC, the project entity, will be responsible for making payments as required by the loan agreement to ensure timely payment of principal and interest on the Copper World Bonds. Hudbay and certain of its subsidiaries have provided guarantees for Copper World LLC's obligations.
The transaction is expected to close on June 24, 2026, subject to customary closing conditions. The bonds were offered and sold in the United States exclusively to qualified institutional buyers and are not registered under the U.S. Securities Act of 1933.