Industrias Peñoles Notes Offering

Davis Polk advised the initial purchasers in connection with the Rule 144A/Regulation S offering by Industrias Peñoles, S.A.B. de C.V. of $600 million aggregate principal amount of notes. The offering consisted of its 4.150% senior notes due 2029 and 4.750% senior notes due 2050. The 4.150% senior notes due 2029 are a reopening of bonds issued on September 12, 2019.

Headquartered in Mexico City, Industrias Peñoles, S.A.B. de C.V. is a leading mining company in Mexico with vertically integrated operations in smelting and refining non-ferrous metals and producing inorganic chemicals. Industrias Peñoles is the world’s largest producer of refined silver, Latin America’s leading producer of refined primary gold and lead and among the world’s top producers of refined zinc and sodium sulfate.

The Davis Polk corporate team included partner Maurice Blanco, counsel Katia Brener and associate Concepción Olivera. Partner Po Sit and associate Rebecca A. Rosen advised on U.S. tax matters. All members of the Davis Polk team are based in the New York office.