Newmont starts exchange offer to swap issuer related to acquisition

Chicago, Nov. 27 – Newmont Corp. started exchange offers for notes issued by Newcrest Mining Ltd. to change the issuer to Newmont in preparation for the previously announced acquisition, according to a press release.

If noteholders tender by the early deadline, they will receive a one-to-one exchange consideration, plus $1.00 in cash.

Noteholders who tender after the early deadline will receive $950 per $1,000 note, plus the same $1.00 cash consideration.

The offer applies to the following notes issued by Newcrest’s subsidiary Newcrest Finance Pty Ltd.:

• $650 million outstanding 3.25% notes due May 13, 2030 (Cusips: 65120FAD6, Q66511AE8);

• $500 million outstanding 5.75% notes due Nov. 15, 2041 (Cusips: 65120FAB0, Q66511AB4); and

• $500 million outstanding 4.2% notes due May 13, 2050 (Cusips: 65120FAE4, Q66511AF5).

The issuers are also soliciting consents in conjunction with the exchange offers.

The proposed amendments would eliminate certain covenants, restrictive provisions, events of default and related provisions from such indentures.

The exchange offers are conditional upon the other exchange offers and consent solicitations.

The offer started Monday.

The early tender deadline is 5 p.m. ET on Dec. 8.

The final deadline is 5 p.m. ET on Dec. 26.

The offer is only open to qualified institutional buyers. An eligibility form is available at www.dfking.com/newmont-newcrest.

D.F. King & Co., Inc. is the information and exchange agent for the offer (800 718-9960, 212 269-5550, newmont@dfking.com).

Newmont is a gold, copper, zinc and lead producer based in Denver. Newcrest is a Melbourne, Australia-based gold producer and gold mining company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.