Newmont Mining repays remaining $275 million under term loan due 2019

By Marisa Wong

Morgantown, W.Va., Aug. 18 – Newmont Mining Corp. paid down the remaining $275 million balance under its term loan credit agreement dated March 31, 2014 with JPMorgan Chase Bank, NA as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The repayment on Aug. 15 effectively terminates the term loan agreement with no outstanding balances remaining. The term loan was set to mature in 2019.

The repayment did not result in any material early termination penalties, the filing noted.

Early repayment results in a lower overall corporate debt position and reduced cash interest expense. Year-to-date, Newmont has reduced its consolidated debt by $915 million, according to a company press release on Thursday.

The gold and copper producer is based in Denver.

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