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Published on 12/17/2021 in the Prospect News Investment Grade Daily and Prospect News Liability Management Daily.

Newmont prices tender offer for 3.7% notes due 2023, Goldcorp notes

By William Gullotti

Buffalo, N.Y., Dec. 17 – Newmont Corp. announced pricing for its 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 on Friday.

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.

There were no updates provided regarding the associated 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.

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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