Santacruz Silver Mining Ltd’s Bolivian subsidiary, San Lucas S.A., has completed its first promissory note offering, raising 70 million Bolivian Bolivianos in just 15 minutes. The notes have a 6.25% interest rate and mature on February 15, 2026, with more offerings expected in the future.
Santacruz Silver Mining Ltd, through its fully owned subsidiary San Lucas S.A. in Bolivia, has successfully executed its inaugural promissory note offering, raising a total of 70 million Bolivian Bolivianos. This offering was met with high demand, selling out within 15 minutes of availability, indicating robust interest from local investors.
CEO Arturo Préstamo remarked on the oversubscription, emphasizing how it reflects the Bolivian investment community’s confidence in their operations and strategic vision. He further elaborated that this successful issuance exemplifies Santacruz Silver’s dedication to investing in Bolivia and enhancing stakeholder value, thereby fostering growth in the mining sector and the country’s economic development.
The promissory notes, which carry an interest rate of 6.25%, were offered on the Bolivian Stock Market (Bolsa Boliviana de Valores) and are set to mature on February 15, 2026. The total authorized limit for this issuance program stands at 140 million Bolivian Bolivianos, with plans for further offerings to follow.
In conclusion, Santacruz Silver’s first promissory note offering in Bolivia indicates strong local investor confidence and reinforces the company’s commitment to the region. With a successful first sale and future offerings anticipated, the subsidiary aims to support both economic growth and its operational objectives within the Bolivian mining sector.
Original Source: www.proactiveinvestors.com
