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Industrias Penoles Retires Silver Notes: The mining company follows the lead of other commodities producers whittling down their presence in future flows

The world's largest primary silver producer, Industrias Penoles, announced last week that it had pre-paid a 12-year structured bond issued in 1997 for $380 million. The Mexican company retired the issue using funds from a two-tranche syndicated loan in dollars and pesos. The news appears to jibe with the recent...

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