Summary
This filing is an amendment to a previous 8-K, primarily to include XBRL tagging. The core event detailed is Newmont Goldcorp's public offering of $700 million in 2.800% Senior Notes due 2029. The company expects to receive approximately $688 million in net proceeds from this sale, after accounting for underwriting discounts and expenses. The primary use of these proceeds is to repay $626 million in outstanding 5.125% senior notes maturing on October 1, 2019. Any remaining funds will be allocated for general corporate purposes. The closing of this note offering is anticipated around September 16, 2019, subject to standard closing conditions. The notes are unsecured and will rank equally with existing and future unsecured senior debt.
Key Highlights
- 1Newmont Goldcorp priced a $700 million public offering of 2.800% Senior Notes due 2029.
- 2Net proceeds are estimated at approximately $688 million after expenses.
- 3The primary use of proceeds is to repay $626 million of 5.125% senior notes maturing on October 1, 2019.
- 4Remaining proceeds will be used for general corporate purposes.
- 5The offering is expected to close around September 16, 2019.
- 6The new notes are unsecured and will rank equally with existing and future unsecured senior debt.
- 7The notes are guaranteed on a senior unsecured basis by Newmont USA Limited.
Frequently Asked Questions
This filing is an amendment to a previous 8-K report. Its main purpose is to add Inline XBRL tagging to the cover page and furnish Exhibit 104, which relates to the XBRL data. The substantive information regarding the debt offering was disclosed in the original 8-K.
The company intends to use the net proceeds, estimated at approximately $688 million, primarily to repay $626 million of its 5.125% senior notes that mature on October 1, 2019. Any remaining funds will be used for general corporate purposes.
The new notes are unsecured obligations of Newmont Goldcorp and will rank equally with the company's existing and future unsecured senior debt. They will rank senior to any future subordinated debt the company may issue.
Newmont USA Limited, a subsidiary of the company, will guarantee the notes on a senior unsecured basis. These guarantees are also unsecured and unsubordinated.