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Newmont declares $1.72 billion notes tendered early in Goldcorp offer
By Robert S. Johnson
Princeton, N.J., March 28 – Newmont Mining Corp. announced the early results for its exchange offer and consent solicitations for any and all of the outstanding notes issued by Goldcorp Inc. that expired at 5 p.m. ET on March 28., the early expiration of its previously announced tender offer.
For holders who tendered by the early deadline the company offered to exchange an equal amount of up to $2 billion of new notes issued by Newmont with the same coupon and maturity date as the existing notes and $1.00 in cash for each $1,000 principal amount of notes, according to a news release.
As of the withdrawal deadline, the following principal amount of notes had been tendered:
• $471,602,000 of the $550 million of 3.625% notes due June 9, 2021, or 85.75%;
• $809,245,000 of the $1 billion of 3.7% notes due March 15, 2023, or 80.92%; and
• $443,494,000 of the $450 million of 5.45% notes due June 9, 2044, or 98.55%.
Holders who tender after the early deadline will receive $970 in new Newmont notes, absent the additional $30 early tender premium.
Concurrently, the tender offer was linked to consent solicitations for amendments to the existing Goldcorp indentures. Newmont has received the requisite number of consents to enter into a supplemental indenture with the trustee and implement the amendments on or prior to the settlement date of the exchange offer and the consent solicitations.
The offers will expire at 9 a.m. ET on April 12. Settlement is expected to occur promptly thereafter.
The offers are being made under Rule 144A and Regulation S.
Global Bondholder Services Corp. (866 807-2200 or 212 430-3774) is the exchange agent and the information agent.
The issuer is a gold and copper producer based in Denver.
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