Summary
This 8-K filing from Newmont Goldcorp Corporation details significant amendments to its existing indenture for its 5.875% Notes due 2035. Initially, on July 1, 2019, Nevada Gold Mines LLC joined as a co-guarantor alongside Newmont USA Limited for these notes. However, through a subsequent consent solicitation, this arrangement was altered effective August 23, 2019. Specifically, Nevada Gold Mines LLC has been released from its guarantee obligations related to the 5.875% Notes due 2035. This release was facilitated by a Second Supplemental Indenture, which also harmonized certain guarantor merger covenant provisions with those found in indentures for other Newmont Goldcorp notes. For investors holding the 2035 notes, the primary takeaway is the modification of the guarantor structure, with Nevada Gold Mines no longer providing a guarantee, while the core terms of the indenture and notes remain largely unchanged.
Key Highlights
- 1Newmont Goldcorp entered into a Second Supplemental Indenture dated August 23, 2019, amending its existing indenture for the 5.875% Notes due 2035.
- 2Nevada Gold Mines LLC was released as a Guarantor for the 5.875% Notes due 2035.
- 3The release of Nevada Gold Mines LLC as Guarantor terminated its guarantee of these specific notes.
- 4The Second Supplemental Indenture also amended guarantor merger covenant provisions to align with other Newmont Goldcorp note indentures.
- 5These changes were made following a successful consent solicitation from noteholders.
- 6All other terms and conditions of the original Indenture and the 5.875% Notes due 2035 remain in effect.