Southern Copper (NYSE: SCCO) prices $1.25B 2036 notes for SPCC
Rhea-AI Filing Summary
Southern Copper Corporation has priced US$1.25 billion principal amount of 5.350% senior unsecured notes due 2036 in an underwritten, registered public offering. The notes are general unsecured obligations that rank equally with the Company’s existing and future unsecured, unsubordinated debt and are expected to close on or about June 24, 2026, subject to customary conditions.
The net proceeds will be used by Southern Peru Copper Corporation, Sucursal del Perú (SPCC) to help fund the Tia Maria project, support SPCC’s capital expenditure program, and for general corporate purposes, including working capital and short-term expenses.
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Insights
Southern Copper locks in long-term funding with a $1.25B 2036 bond issue.
Southern Copper priced US$1.25 billion of 5.350% senior unsecured notes due 2036 via an underwritten, registered public offering. These notes sit pari passu with existing unsecured, unsubordinated debt, so they add leverage without structurally subordinating current bondholders.
Proceeds go to the Peruvian branch, SPCC, for the Tia Maria project, broader capital expenditure plans, and general corporate purposes including working capital. This links the new debt directly to growth and project development in Peru, while the long-dated maturity spreads refinancing risk over a decade away.
BofA Securities and Morgan Stanley acted as global coordinators and joint bookrunners, alongside Barclays and Santander as joint bookrunners. Future filings and the prospectus supplement will provide more detail on covenant terms and how this debt fits into the overall capital structure.
8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Notes principal amount: US$1,250,000,000
Coupon rate: 5.350%
Maturity year: 2036
+3 more
6 metrics
Notes principal amount
US$1,250,000,000
Principal amount of 5.350% notes due 2036
Coupon rate
5.350%
Fixed interest rate on notes due 2036
Maturity year
2036
Final maturity of newly issued notes
Grupo Mexico ownership
88.9%
Equity stake in Southern Copper Corporation
Public ownership
11.1%
Held by international investment community
Expected closing date
on or about June 24, 2026
Anticipated settlement of notes offering
Key Terms
senior unsecured notes, registered public offering, shelf registration statement, prospectus supplement, +2 more
6 terms
senior unsecured notes financial
"5.350% Notes due 2036 (the “Notes”) in an underwritten, registered public offering. These notes will be general unsecured obligations of the Company"
Senior unsecured notes are a type of loan a company borrows from investors, promising to pay back with interest. They are called "unsecured" because they aren’t backed by specific assets like buildings or equipment, but "senior" because they are paid back before other debts if the company gets into trouble. Investors see them as a relatively safer way for companies to raise money.
registered public offering financial
"priced US$1,250,000,000 principal amount of 5.350% Notes due 2036 in an underwritten, registered public offering"
A registered public offering is when a company files required documents with regulators to sell new shares or bonds to the general public, providing standardized financial and business information for transparency. For investors, it matters because it creates an opportunity to buy newly issued securities while often increasing market liquidity, but it can also dilute existing ownership and affect share price as supply and company funding needs change—think of a bakery baking extra loaves that can satisfy more customers but slightly reduces each owner's slice of the original batch.
shelf registration statement regulatory
"The offering is being made pursuant to an effective shelf registration statement, and only by means of a prospectus supplement"
A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.
prospectus supplement regulatory
"only by means of a prospectus supplement and the accompanying prospectus, copies of which may be obtained"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
capital expenditure program financial
"for the development of the Tia Maria project, the financing of the capital expenditure program of SPCC, and/or for general corporate purposes"
forward-looking statements regulatory
"This press release includes forward-looking statements. Actual events and results may differ materially from those projected"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
FAQ
What type of debt did Southern Copper Corporation (SCCO) issue?
Southern Copper priced 5.350% senior unsecured notes due 2036, totaling US$1.25 billion in principal. These notes are general unsecured obligations and rank equally with all existing and future unsecured, unsubordinated debt of the company in this category.
How much did Southern Copper (SCCO) raise in its new notes offering?
Southern Copper priced US$1,250,000,000 principal amount of notes. The bonds carry a 5.350% coupon and mature in 2036, providing long-term funding to support the company’s Peruvian operations and related investment plans at its SPCC branch.
What will Southern Copper use the US$1.25 billion notes proceeds for?
Net proceeds will be used by Southern Peru Copper Corporation, Sucursal del Perú (SPCC) for the Tia Maria project, SPCC’s capital expenditure program, and general corporate purposes, including working capital and other short-term expenses at the Peruvian branch.
When is Southern Copper’s new notes transaction expected to close?
The transaction is expected to close on or about June 24, 2026, subject to customary closing conditions. Final settlement timing will depend on these conditions being satisfied in line with standard practice for underwritten registered public offerings.
Which banks are managing Southern Copper Corporation (SCCO) notes offering?
BofA Securities, Inc. and Morgan Stanley & Co. LLC are global coordinators and joint bookrunners. Barclays Capital Inc. and Santander Capital Markets LLC are additional joint bookrunners, distributing the 5.350% US$1.25 billion notes due 2036 to investors under an effective shelf registration.
How is Southern Copper Corporation (SCCO) owned and where does it operate?
Southern Copper is 88.9% owned by Grupo Mexico, with 11.1% held by the international investment community. It operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Mexico and Peru.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 17, 2026 (June 16, 2026 )
(Exact name of registrant as specified in its charter)
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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(Address of principal executive offices, including zip code)
(602 ) 264-1375
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions
(see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class:
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Trading Symbol
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Name of each exchange on which
registered:
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Lima Stock Exchange
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
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ITEM 8.01
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Other Events
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On June 17, 2026, Southern Copper Corporation (“SCC” or the “Company”), issued a press release announcing that on June 16, 2026 it had priced 5.350% US$1.25 billion Notes
due 2036 of fixed rate senior unsecured notes in an underwritten, registered public offering. The transaction is expected to close on or about June 24, 2026, subject to customary closing conditions. The net proceeds from this offering will be used by
Southern Peru Copper Corporation, Sucursal del Perú, our Peruvian branch (“SPCC”), for the development of the Tia Maria project, the financing of the capital expenditure program of SPCC, and/or for general corporate purposes of SPCC, including but
not limited to working capital (and expenses due in the short term). A copy of this press release is attached hereto as Exhibit 99.1.
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ITEM 9.01
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Financial Statements and Exhibits
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(d)
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Exhibits:
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99.1 Press release of Southern Copper Corporation dated June 17, 2026.
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INDEX TO EXHIBITS
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Exhibits
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99.1
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Press release of Southern Copper Corporation dated June 17, 2026.
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104
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Cover Page Interactive Data File (embedded within the inline XBRL document)
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
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SOUTHERN COPPER CORPORATION
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By:
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/s/ Julián Jorge Lazalde Psihas
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Name:
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Julián Jorge Lazalde Psihas
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Title:
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Secretary
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Date: June 17, 2026
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4
Exhibit 99.1
Investor Relations: (602) 264-1375
SOUTHERN COPPER CORPORATION PRICES $1,250,000,000 UNSECURED NOTES DUE 2036
Phoenix, June 17, 2026 - Southern Copper Corporation (NYSE and LSE: SCCO) (the "Company") announces that on June 16, 2026, it priced US$1,250,000,000 principal amount of
5.350% Notes due 2036 (the “Notes”) in an underwritten, registered public offering. The transaction is expected to close on or about June 24, 2026, subject to customary closing conditions. These notes will be general unsecured obligations of the
Company and will rank equally with all of its existing and future unsecured and unsubordinated debt.
The net proceeds from this offering will be used by Southern Peru Copper Corporation, Sucursal del Perú, our
Peruvian branch (“SPCC”), for the development of the Tia Maria project, the financing of the capital expenditure program of SPCC, and/or for general corporate purposes of SPCC, including but not limited to working capital (and expenses due in the
short term).
BofA Securities, Inc. and Morgan Stanley & Co. LLC acted as global coordinators and joint bookrunners for the offering and Barclays Capital Inc. and Santander US
Capital Markets LLC acted as joint bookrunners for the offering.
The offering is being made pursuant to an effective shelf registration statement, and only by means of a prospectus supplement and the accompanying prospectus, copies of
which may be obtained by contacting BofA Securities, Inc. at +1-800-294-1322, Morgan Stanley & Co. LLC at +1-800-624-1808, Barclays Capital Inc. at +1-929-694-1057 or Santander US Capital Markets LLC at +1-855-403-3636. Alternatively, you may get
these documents for free by visiting EDGAR on the website of the U.S. Securities and Exchange Commission (the "SEC") at http://www.sec.gov/. Before you invest in the notes, you should read the prospectus supplement, the accompanying prospectus in the
registration statement and the other documents the Company has filed with the SEC for more complete information about the Company and this offering.
Southern Copper Corporation is one of the largest integrated copper producers in the world and we believe we have the largest copper reserves of any listed company. The
Company is a NYSE and Lima Stock Exchange listed company that is 88.9% owned by Grupo Mexico, a Mexican company listed on the Mexican stock exchange. The remaining 11.1% ownership interest is held by the international investment community. The
Company operates mining units and metallurgical facilities in Mexico and Peru and conducts exploration activities in Argentina, Chile, Mexico and Peru.
This press release shall not constitute an offer to sell or purchase or the solicitation of an offer to sell or purchase the Notes or any other securities, nor
shall there be any offer, solicitation, purchase or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of the jurisdiction.
This press release includes forward-looking statements. Actual events and results may differ materially from those projected. The statements in this news
release regarding the notes offering, the terms thereof and other statements that are not historical facts are forward-looking statements. Factors that could affect actual results include general market conditions and other factors discussed in the
Company's Form 10-K for the period ended December 31, 2025, and the Company's other filings with the SEC.