Newmont provides early tender results for 3.7% notes, Goldcorp notes

Chicago, Dec. 17 – Newmont Corp. announced the early results for its tender offers for any and all of its $323,154,000 outstanding 3.7% notes due 2023 (Cusips: 651639AS5, 651639AT3, U65163AC8) and the $90,549,000 outstanding 3.7% notes due 2023 (Cusip: 380956AD4) issued by wholly owned subsidiary Goldcorp Inc., according to a press release on Friday.

The company received tenders for $89,459,000, or 28%, of the Newmont notes and $4,003,000, or 4%, of the Goldcorp notes.

Earlier on Friday, the company priced and announced the total considerations.

The total consideration for each series, with pricing based on the 0.5% U.S. Treasury due March 15, 2023 plus 25 basis points, is $1,037.27 per $1,000 principal amount of notes, reflecting a reference yield of 0.417%.

The total consideration includes an early tender payment of $50 per $1,000 principal amount of notes tendered before 5 p.m. ET on Dec. 17.

As previously reported, noteholders who tender their notes after the early deadline will receive the total consideration minus the $50 early tender payment.

Interest will also be paid to the applicable settlement date.

Early settlement is planned for Dec. 20.

The offers and consent solicitations expire at 11:59 p.m. ET on Jan. 4.

The company was also conducting consent solicitations intended to shorten the minimum notice period for the optional redemption of each series to two business days from 30 calendar days. The consent solicitation for the Newmont notes also included amendments to eliminate substantially all of the restrictive covenants and some events of default under the indenture.

The company has not obtained the requisite consents for the execution of supplemental indentures to amend the applicable indentures governing the notes.

The offer is subject to a financing condition, specifically the sale of debt securities by Newmont in an amount sufficient to finance the offer to purchase.

BMO Capital Markets Corp. (833 418-0762, 212 702-1840), Credit Suisse Securities (USA) LLC (800 820-1653, 212 325-7823), Goldman Sachs & Co. LLC (800 828-3182, 212 902-6351) and J.P. Morgan Securities LLC (866 834-4666, 212 834-4045) are acting as dealer managers for the offers and solicitation agents for the consent solicitations.

D.F. King & Co., Inc. (800 549-6746, 212 269-5550, www.dfking.com/newmont) is the information and tender agent for the offer.

The gold, copper, zinc and lead producer is based in Denver.

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