Summary
Newmont Goldcorp Corporation (the "Company") announced on September 10, 2019, the pricing of a public offering of $700 million in aggregate principal amount of 2.800% Senior Notes due 2029. The net proceeds from this offering are estimated to be approximately $688 million, after deducting underwriting discounts and expenses. The primary use of these funds will be to repay the outstanding $626 million of 5.125% senior notes maturing on October 1, 2019. Any remaining proceeds will be utilized for general corporate purposes. The offering, registered under the Securities Act of 1933, is expected to close around September 16, 2019. The Notes are unsecured obligations of the Company and will rank equally with existing and future unsecured senior debt, while being senior to subordinated debt. The Guarantor, Newmont USA Limited, will provide a senior unsecured guarantee for these notes.
Key Highlights
- 1Newmont Goldcorp priced a $700 million public offering of 2.800% Senior Notes due 2029.
- 2The offering is intended to refinance $626 million in maturing 5.125% senior notes due October 1, 2019.
- 3Estimated net proceeds from the offering are approximately $688 million.
- 4The Notes are unsecured obligations and rank equally with the Company's other unsecured senior debt.
- 5Newmont USA Limited will provide a senior unsecured guarantee for the Notes.
- 6The offering is expected to close on or about September 16, 2019.
- 7Underwriting agreements were made with Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC.