Buy Volcan Bonds After Loan Refinancing, Rating Upgrade: Lucror

Published 26 July 2024, 15:55:31.535 GMT
By Maria Elena Vizcaino

(Bloomberg) -- Lucror Analytics is recommending clients buy Volcan’s 2026 bond after the company reached an agreement to refinance its bank loan, prompting an upgrade to its credit rating.

* The zinc miner also disclosed a plan this week to refinance its dollar bond

* “We expect the exchange of the unsecured bond with a secured bond to take place shortly at par, with a higher coupon,” analyst Josseline Jenssen wrote in a note Friday

* NOTE: Thursday, Volcan Cia Minera Upgraded to Caa1 by Moody’s

* NOTE: Monday, Peru Miner Volcan Authorized to Exchange Notes Due 2026: Filing