Santacruz Silver Mining Ltd’s Bolivian subsidiary, San Lucas S.A., completed its first promissory note offering, raising 70 million Bolivian Bolivianos in just 15 minutes due to high demand. CEO Arturo Préstamo highlighted the confidence from local investors. The notes feature a 6.25% interest rate and mature on February 15, 2026, with a total authorization of 140 million Bolivianos for future issuances.
Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has successfully completed the inaugural offering of promissory notes by its wholly-owned Bolivian subsidiary, San Lucas S.A. This initiative, part of the San Lucas Promissory Notes Issuance Program, raised a total of 70 million Bolivian Bolivianos, achieving sell-out status within just 15 minutes, indicating robust demand from local investors.
Arturo Préstamo, CEO of Santacruz Silver, commented on the offering’s success, expressing that the strong demand reflects the confidence of the Bolivian investment community in the company’s operations and strategic vision. He further emphasized the company’s commitment to investing and expanding within Bolivia, aiming to generate value for stakeholders while supporting the local mining sector and economic progress.
The promissory notes were offered on the Bolivian Stock Market (Bolsa Boliviana de Valores) with an attractive interest rate of 6.25% and a maturity date set for February 15, 2026. The total authorized sum under this issuance program is 140 million Bolivian Bolivianos, with plans for additional offerings expected to follow.
In summary, Santacruz Silver’s first promissory note offering successfully raised significant funds, signaling strong investor confidence in Bolivia’s mining sector. The company’s commitment to long-term growth and development in the region, coupled with the positive response from local investors, positions it favorably for continued success in future offerings.
Original Source: www.proactiveinvestors.com
