08:11 AM EDT, 10/21/2024 (MT Newswires) -- Aura Minerals ( ORAAF ) said Monday that its subsidiary Aura Almas Mineracao closed a public offering of its second issuance of simple debentures worth about US$175 million.

On the same date, Almas entered into a swap agreement with Banco Itau to fully hedge the debentures. Under the terms, the company will take an active position of about US$175 million.

Aura said the swap transaction has a principal and interest amortization schedule identical to the principal and interest amortization schedule of the debentures.

"Initially set at (about US$88 million)... we concluded the transaction with (US$175 million) at a reduced rate of CDI+1.60% per annum, reflecting an oversubscribed order book," CEO Rodrigo Barbosa said. "This achievement is a result of the excellence that Aura pursues."

Aura's share price climbed 4.8% last Friday to $16.67 on the TSX.