Newmont Corporation Announces Successful Early Tender Results of its Tender Offers for $2 Billion of Certain Outstanding Series of Notes

Business Wire

4 hours ago

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, ASX: NEM, TSX: NGT, PNGX: NEM) (Newmont or the Company) announced today the early tender results of its previously announced offers (each, a 'Tender Offer' and, collectively, the 'Tender Offers') to purchase for cash up to the Aggregate Cap (as defined below) of its outstanding series of notes listed in the table below (collectively, the 'Notes'). The Tender Offers are being made pursuant to the terms and subject to the conditions set forth in the offer to purchase, dated July 28, 2025 (the 'Offer to Purchase'). All capitalized terms not defined herein shall have the meanings ascribed to those terms in the Offer to Purchase.
Newmont has been advised by the Information and Tender Agent (as defined below) for the Tender Offers that as of 5:00 p.m., Eastern Time, on August 8, 2025 (such time and date, the 'Early Tender Date') the aggregate principal amount of each series of Notes listed in the table below had been validly tendered and not validly withdrawn in each Tender Offer. Withdrawal rights for the Notes expired at 5:00 p.m., Eastern Time, on August 8, 2025.
(1)
The Pool 1 Maximum Amount of $1,000,030,000 represents the maximum aggregate principal amount of Notes in respect of the Pool 1 Notes that may be purchased in the Pool 1 Tender Offers. The Pool 2 Maximum Amount of $1,000,000,000 represents the maximum aggregate principal amount of Notes in respect of the Pool 2 Notes that may be purchased in the Pool 2 Tender Offers.
(2)
Subject to the Aggregate Cap, the Maximum Amounts and proration, if applicable, the aggregate principal amount of each series of Notes that is purchased in each Tender Offer will be determined in accordance with the applicable Acceptance Priority Level (in numerical priority order) specified in this column.
(3)
Notes with CUSIPs 65163LAB5, 65163LAH2, 65163LAA7, Q6684MAA1, 65163LAG4 and Q6684MAD5 are co-issued with Newcrest Finance Pty Limited. Notes with CUSIPs Q66511AE8 and 65120FAD6 are issued by Newcrest Finance Pty Limited.
(4)
Notes with CUSIPs 65163LAC3, Q6684MAB9, 65163LAJ8, Q6684MAE3, 65163LAD1 and 65163LAK5 are co-issued with Newcrest Finance Pty Limited. Notes with CUSIPs Q66511AB4 and 65120FAB0 are issued by Newcrest Finance Pty Limited.
(5)
Notes with CUSIP 380956AE2 are issued by Goldcorp Inc.
(6)
Newmont does not expect to accept for purchase any of the 5.450% notes due 2044, 5.875% notes due 2035 and 2.600% sustainability-linked notes due 2032.
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Because the Pool 1 Notes validly tendered and not validly withdrawn prior to or at the Early Tender Date have an aggregate principal amount that exceeds the Pool 1 Maximum Amount, Newmont does not expect to accept for purchase all Pool 1 Notes that have been validly tendered and not validly withdrawn prior to or at the Early Tender Date. Rather, subject to the Pool 1 Maximum Amount and the Acceptance Priority Levels set forth in the table above, in each case as further described in the Offer to Purchase, Newmont expects to accept for purchase all of the 2.800% senior notes due 2029 and 2.250% senior notes due 2030 validly tendered and not validly withdrawn prior to or at the Early Tender Date. Newmont expects to accept for purchase the 3.250% notes due 2030 validly tendered and not validly withdrawn prior to or at the Early Tender Date subject to proration as set forth in the Offer to Purchase. As described further in the Offer to Purchase, Notes tendered and not accepted for purchase will be promptly credited to the tendering holder's account. Additionally, because the Pool 1 Notes validly tendered and not validly withdrawn prior to or at the Early Tender Date have an aggregate principal amount that exceeds the Pool 1 Maximum Amount, Newmont does not expect to accept for purchase any Pool 1 Notes tendered after the Early Tender Date on a subsequent settlement date. The Tender Offers for the Pool 1 Notes will expire at 5:00 p.m., Eastern Time, on August 25, 2025 (such time and date, the 'Expiration Date'). Newmont has increased the previously announced Pool 1 Maximum Amount from $1,000,000,000 to $1,000,030,000 and the previously announced Aggregate Cap from $2,000,000,000 to $2,000,030,000 aggregate principal amount (the 'Aggregate Cap') of its Notes.
Because the Pool 2 Notes validly tendered and not validly withdrawn prior to or at the Early Tender Date have an aggregate principal amount that exceeds the Pool 2 Maximum Amount, Newmont does not expect to accept for purchase all Pool 2 Notes that have been validly tendered and not validly withdrawn prior to or at the Early Tender Date. Rather, subject to the Pool 2 Maximum Amount and the Acceptance Priority Levels set forth in the table above, in each case as further described in the Offer to Purchase, Newmont expects to accept for purchase all of the 6.250% senior notes due 2039 and 4.875% senior notes due 2042 validly tendered and not validly withdrawn prior to or at the Early Tender Date. Newmont expects to accept for purchase the 5.750% notes due 2041 validly tendered and not validly withdrawn prior to or at the Early Tender Date subject to proration as set forth in the Offer to Purchase. Newmont does not expect to accept for purchase any of the 5.450% notes due 2044, 5.875% notes due 2035 and 2.600% sustainability-linked notes due 2032. As described further in the Offer to Purchase, Notes tendered and not accepted for purchase will be promptly credited to the tendering holder's account. Additionally, because the Pool 2 Notes validly tendered and not validly withdrawn prior to or at the Early Tender Date have an aggregate principal amount that exceeds the Pool 2 Maximum Amount, Newmont does not expect to accept for purchase any Pool 2 Notes tendered after the Early Tender Date on a subsequent settlement date. The Tender Offers for the Pool 2 Notes will expire on the Expiration Date.
The 'Total Consideration' per $1,000 principal amount of the Notes of a series validly tendered (and not validly withdrawn) prior to or at the Early Tender Date and accepted for purchase pursuant to the applicable Tender Offer will be determined in the manner described in the Offer to Purchase by reference to (i) the applicable fixed spread for such series of Notes set forth in the table above and (ii) the applicable yield for such series of Notes based on the bid-side price of the applicable U.S. Treasury Reference Security (the 'Reference Security') set forth in the table above, as displayed on the applicable page on the Bloomberg Reference Page FIT6 (with respect to the Pool 1 Tender Offers) and FIT1 (with respect to the Pool 2 Tender Offers), as applicable, at 10:00 a.m., Eastern Time, on August 11, 2025, as such time and date may be extended. Only holders of Notes who validly tendered and did not validly withdraw their Notes prior to or at the Early Tender Date are eligible to receive the applicable Total Consideration, which is inclusive of an early tender payment equal to $50 per $1,000 principal amount of Notes, for each series of Notes accepted for purchase. In addition to the applicable Total Consideration for such series of Notes, holders of Notes of such series accepted for purchase pursuant to the applicable Tender Offer will receive accrued and unpaid interest on the Notes accepted for purchase pursuant to the applicable Tender Offer from and including the most recent interest payment date to but excluding the Early Settlement Date, which is currently expected to be August 13, 2025.
Newmont will issue a press release specifying the Total Consideration for each series of Notes expected to be accepted for purchase. Newmont's obligation to accept for purchase, and to pay for, the Notes that are validly tendered (and not validly withdrawn) pursuant to the Tender Offers is subject to the satisfaction or waiver by Newmont of certain conditions to the Tender Offers set forth in the Offer to Purchase. Each Tender Offer is not conditioned upon the completion of the other Tender Offers. In addition, the Tender Offers are not conditioned on any minimum aggregate principal amount of Notes of a series being tendered.
BMO Capital Markets Corp., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as the dealer managers in connection with the Tender Offers (collectively, the 'Dealer Managers'). D.F. King & Co., Inc. is acting as the information and tender agent in connection with the Tender Offers (the 'Information and Tender Agent'). Requests for assistance relating to the Tender Offers or for additional copies of the Offer to Purchase or other related documents may be directed to BMO Capital Markets Corp. at [phone] (collect) and [phone] (toll free), Goldman Sachs & Co. LLC at [phone] (collect) and [phone] (toll free) and J.P. Morgan Securities LLC at [phone] (collect) and [phone] (toll free) or to the Information and Tender Agent at [phone] (banks and brokers) and [phone] (toll free). Holders of the Notes may also contact their broker, dealer, commercial bank, trust company or other nominee or intermediary for assistance concerning the Tender Offers. Holders of the Notes are urged to review the Offer to Purchase for the detailed terms of the Tender Offers and the procedures for tendering their Notes.
Neither the Offer to Purchase nor any related documents have been filed with the U.S. Securities and Exchange Commission, nor have any such documents been filed with or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer to Purchase or any related documents, and it is unlawful and may be a criminal offense to make any representation to the contrary.
This press release does not constitute an offer to purchase, or a solicitation of an offer to sell, or the solicitation of tenders with respect to, the Notes or any other securities. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, purchase or sale would be unlawful. The Tender Offers are being made solely pursuant to the Offer to Purchase and only to such persons and in such jurisdictions as is permitted under applicable law. None of Newmont, the Dealer Managers, the Information and Tender Agent or the trustees with respect to the Notes makes any recommendation as to whether holders of the Notes should tender, or refrain from tendering, all or any portion of the principal amount of their Notes pursuant to the Tender Offers, and no one has been authorized by any of them to make such a recommendation. Holders of the Notes must make their own decision as to whether to tender any of their Notes and, if so, the principal amount of their Notes to tender pursuant to the Tender Offers.
About Newmont
Newmont is the world's leading gold Company and producer of copper, zinc, lead, and silver. Newmont's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Founded in 1921, Newmont has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining.
Cautionary Statement Regarding Forward Looking Statements:
This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, which are intended to be covered by the safe harbor created by such sections and other applicable laws. All statements regarding the expiration and closing of the Tender Offers and future satisfaction of terms and subject to the conditions set forth in the offer to purchase that are not statements of historical fact are forward-looking statements. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to risks and uncertainties. Actual results could differ materially from those expressed in or implied by the forward-looking statements contained in this release because of a variety of factors, including, but not limited to, general market conditions which might affect the Tender Offers and other factors identified in the offer to purchase and the Company's periodic reports. For a discussion of such risks and other factors that might impact future looking statements, see Newmont's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission (the 'SEC') on February 21, 2025, under the heading 'Risk Factors,' and other factors identified in Newmont's reports filed with the SEC, available on the SEC website or at www.newmont.com. Newmont does not undertake any obligation to release publicly revisions to any 'forward-looking statement,' including, without limitation, outlook, to reflect events or circumstances after the date of this press release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued 'forward-looking statement' constitutes a reaffirmation of that statement. Continued reliance on 'forward-looking statements' is at investors' own risk. Investors are also encouraged to review our Form 10-Q for the quarter ended June 30, 2025, filed on July 24, 2025.