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Published on 10/27/2016 in the Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Newmont Mining tenders for $500 million of 3.5% notes, 5.125% notes

By Susanna Moon

Chicago, Oct. 27 – Newmont Mining Corp. began tendering for up to $500 million of its 3.5% senior notes due 2022 and 5.125% senior notes due 2019.

Pricing will be set at 11 a.m. ET on Nov. 10 for each $1,000 principal amount using a reference security plus a fixed yield as follows, with the notes listed in order of priority acceptance level:

• $1.5 billion of outstanding 3.5% senior notes due 2022 will price using the 1.125% U.S. Treasury notes due Sept. 30, 2021 plus 90 bps for a hypothetical total purchase price of $1,061.48; and

• $626,405,000 of outstanding 5.125% senior notes due 2019 based on the 1% U.S. Treasury notes due Oct. 15, 2019 plus 55 bps for a hypothetical total purchase price of $1,098.43.

The hypothetical total purchase price was set at 11 a.m. ET on Oct. 26 assuming a settlement date of Nov. 28, according to a company announcement.

The total purchase price includes an early tender premium of $30.00 for each $1,000 principal amount tendered by 5 p.m. ET on Nov. 9, the early tender date.

The tender offer will end at 11:59 p.m. ET on Nov. 25.

Tendered notes may be withdrawn by the early deadline.

The lead dealer managers are BofA Merrill Lynch (888 292-0070 or 980 387-3907) and BNP Paribas Securities Corp. (888 210-4358 or 212 841-3059). The co-dealer managers are BMO Capital Markets Corp. and MUFG Securities Americas Inc. The information agent is D.F. King & Co., Inc. (800 488-8095 or 212 269-5550).

The issuer is a gold and copper producer based in Denver.


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