Santacruz Silver Mining Ltd has successfully completed its first offering of promissory notes through its subsidiary, San Lucas S.A., raising 70 million Bolivian Bolivianos in a sellout sale that occurred in just 15 minutes. CEO Arturo Préstamo highlighted the robust demand from local investors and affirmed the company’s dedication to investment in Bolivia. The notes carry a 6.25% interest rate and will mature in 2026.
Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has announced the successful completion of its first promissory note offering through its wholly owned subsidiary, San Lucas S.A. The offering, which took place under the San Lucas Promissory Notes Issuance Program, raised an impressive 70 million Bolivian Bolivianos and was oversubscribed, selling out in just 15 minutes. This swift sale underscores a strong interest among local investors.
Santacruz Silver’s CEO, Arturo Préstamo, emphasized the importance of this achievement, 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 noted that this successful issuance reaffirms the company’s commitment to continued investment in Bolivia, aiming to create value for stakeholders while supporting the local mining sector.
The promissory notes, which were issued on the Bolivian Stock Market (Bolsa Boliviana de Valores), feature an interest rate of 6.25% and are scheduled to mature on February 15, 2026. The entire program has a total authorized amount of 140 million Bolivian Bolivianos, with expectations of further offerings in the future, reflecting continued confidence in the company’s prospects and the Bolivian market.
In summary, Santacruz Silver’s initial promissory note offering by its subsidiary San Lucas S.A. was a significant success, illustrated by its rapid sellout and substantial local investor interest. The company remains steadfast in its commitment to Bolivian economic development and its mining sector, while plans for additional fundraising efforts signal a positive outlook for future investments.
Original Source: www.proactiveinvestors.com
