Fresnillo plc $850 Million Senior Notes Offering and Concurrent Tender Offer

Davis Polk advised the initial purchasers in connection with the Rule 144A/Regulation S offering by Fresnillo plc of 4.250% senior notes due 2050 in the aggregate amount of $850 million and as dealer managers in connection with a concurrent cash tender offer by Fresnillo for any and all of its 5.500% senior notes due 2023. The tender offer consideration was primarily funded from the net proceeds of the offering.

Headquartered in London and having its main operations in Mexico, Fresnillo plc is the world’s largest silver producer and the largest gold producer in Mexico.

 The Davis Polk corporate team included partner Maurice Blanco, counsel Katia Brener and associate Ernesto Talamás Velázquez. Partner Simon Witty and counsel John Taylor provided English law advice. Partners Po Sit and Jonathan Cooklin, counsel Dominic Foulkes and associates Ben Levenback and Freddie Schwier provided U.S. and English tax advice. Members of the Davis Polk team are based in the New York and London offices.