Newmont offers cash for 3.7% notes due 2023, including Goldcorp notes

Chicago, Dec. 6 – Newmont Corp. commenced a tender offer 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.

The total consideration will be based on the 0.5% U.S. Treasury due March 15, 2023 plus 25 basis points, with the actual amount to be determined at 10 a.m. ET on Dec. 17.

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.

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.

Newmont is also soliciting consents from noteholders to eliminate substantially all of the restrictive covenants and some events of default under the Newmont indenture and shorten the minimum notice period for the optional redemption of the Newmont notes to two business days from 30 calendar days.

For the Goldcorp notes, the company is soliciting consents to shorten the minimum notice period for the optional redemption of the Goldcorp notes to two business days from 30 calendar days.

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

Early settlement is planned for Dec. 20.

The offer is subject to a financing condition for the issuance and sale of debt securities in an amount sufficient to fund the tender offer.

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

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

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