Newmont Mining makes $100 million prepayment on five-year term loan

By Tali Rackner

Norfolk, Va., Nov. 24 – Newmont Mining Corp. said it made a $100 million prepayment toward a five-year, $575 million unsecured amortizing term loan received in March, according to a press release.

The term loan was used to repay $575 million of convertible debt that matured in July. Proceeds recently received as a result of the government of Suriname exercising its option to participate in a fully funded 25% equity ownership stake in the Merian Gold Project were included in the $100 million prepayment.

According to the release, Newmont has about $5 billion in cash, revolver capacity and marketable securities on its balance sheet and will continue to evaluate and optimize the best use of free cash flow, including investing in profitable projects, repaying debt and returning capital to shareholders.

Newmont is a Denver-based mining company.

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