Newmont receives $894.93 million of tenders in $500 million offer

New York, March 14 – Newmont Mining Corp. said that it received tenders for a total of $894.93 million of notes in its cash tender offer to buy up to $500 million from four series of its debt.

The company announced the offer on Feb. 29. At the time it set the cap at $500 million but said that could be increased.

By the early tender deadline of 5 p.m. ET on March 11, holders had tendered notes as follows. The securities covered by the offer are listed in order of priority, with pricing to be set at 11 a.m. ET on March 14 using the bid-side prices of a reference security and a fixed spread.

• $273,121,000 of its $900 million 5.125% senior notes due 2019 were tendered. The issue has a $400 million tender sub-cap. Pricing will be set using the 0.75% Treasury notes due Feb. 15, 2019 plus 200 basis points;

• $258,221,000 of its $1.1 billion 6.25% senior notes due 2039 were tendered. Pricing will be set using the 3% Treasury notes due Nov. 15, 2045 plus 430 bps;

• $262,289,000 of its $1.5 billion 3.5% senior notes due 2022 were tendered. Pricing will be set using the 1.125% Treasury notes due Feb. 28, 2021 plus 280 bps; and

• $101,296,000 of its $600 million 5.875% notes due 2035 were tendered. Pricing will be set using the 3% Treasury notes due Nov. 15, 2045 plus 425 bps.

The total payment will include an early tender premium of $30.00 per $1,000 of principal amount of notes tendered by the early tender date.

Those who tender after the early deadline will receive the total amount less the early premium.

The tender offer will end at 11:59 p.m. ET on March 28.

The company also will pay accrued interest to but excluding the settlement date.

The offer is not conditioned on the tender of a minimum principal amount of notes but is subject to other conditions.

The lead dealer managers are BofA Merrill Lynch (888 292-0070 or 980 683-3215) and Goldman Sachs & Co. (800 828-3182 or 212 902-6941), and Mizuho Securities USA Inc. is a co-dealer manager. D.F. King & Co., Inc. (866 416-0643 or 212 269-5550) is the information agent.

Newmont is a Denver-based mining company.

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