Santacruz Silver has completed its first promissory note offering through its subsidiary San Lucas S.A., raising 70 million Bolivian Bolivianos within 15 minutes due to high local demand. The notes have an interest rate of 6.25% and mature on February 15, 2026. A total of 140 million Bolivian Bolivianos is authorized for future offerings, reflecting strong investor confidence.
Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has announced that its wholly-owned Bolivian subsidiary, San Lucas S.A., successfully finalized its inaugural offering of promissory notes. This effort was part of the San Lucas Promissory Notes Issuance Program, raising a total of 70 million Bolivian Bolivianos. The remarkable interest from local investors resulted in a sell-out within merely 15 minutes, underscoring significant demand for this financial instrument.
Arturo Préstamo, CEO of Santacruz Silver, remarked on the enthusiastic response, stating, “The strong demand and oversubscription of the first offering under the San Lucas Promissory Notes Issuance Program highlights the confidence of the Bolivian investment community in our operations and long-term vision.” He further emphasized the issuance’s role in reaffirming the company’s dedication to progress within Bolivia’s mining sector.
The promissory notes are listed on the Bolivian Stock Market (Bolsa Boliviana de Valores) and offer an attractive interest rate of 6.25%. These notes will mature on February 15, 2026. Notably, the total authorized amount for the issuance program stands at 140 million Bolivian Bolivianos, with expectations for further offerings to follow in due course.
In summary, Santacruz Silver’s first promissory note offering has proven to be a resounding success, demonstrating robust local investor confidence. The swift sell-out indicates strong market demand and positions the company favorably for future financial ventures in Bolivia, ultimately aiming to enhance its contribution to the mining sector and economic development.
Original Source: www.proactiveinvestors.com
