Santacruz Silver’s Bolivian Subsidiary Successfully Completes Promissory Note Offering
Santacruz Silver Mining Ltd. has completed a successful promissory note offering through its subsidiary San Lucas S.A., raising 70 million Bolivian Bolivianos within 15 minutes due to high demand from local investors. CEO Arturo Préstamo highlighted this confidence in their operations. The notes feature a 6.25% interest rate and mature on February 15, 2026, with additional offerings planned.
Santacruz Silver Mining Ltd. (TSX-V:SCZ, OTC:SZSMF) has successfully completed the initial offering of promissory notes by its wholly owned Bolivian subsidiary, San Lucas S.A., raising 70 million Bolivian Bolivianos in a sale that was oversubscribed and sold out in merely 15 minutes. This robust response underscores significant interest from local investors.
In a statement, CEO Arturo Préstamo remarked on the oversubscription, 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.” This statement reflects the positive perception of Santacruz Silver’s initiatives in Bolivia.
The promissory notes were issued on the Bolivian Stock Market (Bolsa Boliviana de Valores) and feature an interest rate of 6.25%, maturing on February 15, 2026. The total authorized issuance amount for this program is 140 million Bolivian Bolivianos, indicating further offerings are likely in the future, which showcases the ongoing commitment of Santacruz Silver to its projects.
In summary, Santacruz Silver’s successful promissory note offering demonstrates strong confidence from investors in Bolivia. The quick sell-out indicates robust demand for the company’s initiatives, reinforcing their commitment to local investment and economic growth. This issuance not only benefits Santacruz Silver but also contributes positively to Bolivia’s mining sector.
Original Source: www.proactiveinvestors.com