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Cobre del Mayo Completes Tender Offers and Consent Solicitation

Paul, Weiss advised Mexican copper mining company Cobre del Mayo , S.A. de C.V. in recent tender offers and a consent solicitation. The company completed tender offers in which approximately $37 million of its senior secured PIK (payment-in-kind) toggle notes due 2021, $6 million of its 10.75% senior notes due 2018 and $6 million junior non-interest bearing notes due 2045 were tendered for cash consideration.

In connection with the tender offers, Cobre del Mayo also successfully completed a consent solicitation from holders of its senior secured PIK toggle notes due 2021 to amend certain provisions of the indenture relating to the notes. BCP Securities acted as the dealer manager and solicitation agent and Ipreo acted as the tender agent, tabulation agent and information agent for the tender offers and consent solicitation.

The Paul, Weiss team included corporate partner Andrew Foley and counsel Stephen Centa and Philip Heimowitz; and tax partner David Mayo.

November 1, 2018

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