Gold mining giant, Newmont Corporation, unveils bond purchase offers worth a whopping $2 billion for selected series of notes.
Newmont Corporation Announces Tender Offers for Up to $2 Billion in Notes
Newmont Corporation, the world's leading gold company and a prominent player in the mining industry, has announced tender offers to purchase up to $2 billion aggregate principal amount of certain outstanding series of its notes. The offers, which are scheduled to expire on August 25, 2025, are being managed by BMO Capital Markets Corp., Goldman Sachs & Co. LLC, and J.P. Morgan Securities LLC.
The tender offers aim to repurchase a portion of Newmont's outstanding notes, offering incentives for early tendering. The total aggregate principal amount available for purchase is capped at $2 billion, with Pool 1 Tender Offers having a maximum of $1 billion, and Pool 2 Tender Offers also having a maximum of $1 billion. Newmont reserves the right to adjust these caps at its discretion.
Holders must validly tender their notes on or before 5:00 p.m. ET, August 8, 2025 (Early Tender Date), to receive the applicable Total Consideration, which includes an additional Early Tender Payment. Notes tendered after the Early Tender Date but before or at the expiration will receive a Late Tender Offer Consideration, which equals the Total Consideration minus the Early Tender Payment. The tender offers are not conditioned on any minimum amount tendered.
The Total Consideration for each series of notes validly tendered prior to or at the Early Tender Date and accepted for purchase is calculated using the applicable Fixed Spread and is inclusive of the applicable Early Tender Payment. The Final Settlement Date for the notes is anticipated to be on or around August 28, 2025. Payment for the notes that are validly tendered prior to or at the Early Tender Date and that are accepted for purchase may be made on the date referred to as the "Early Settlement Date," anticipated to be on or around August 13, 2025.
Newmont is widely recognised for its principled environmental, social, and governance practices. The company, which was founded in 1921 and has been publicly traded since 1925, is an industry leader in value creation and a producer of gold, copper, zinc, lead, and silver. Newmont's purpose is to create value and improve lives through sustainable and responsible mining.
Investors are encouraged to review the Offer to Purchase for the detailed terms of the offers and the procedures for tendering their notes. Additionally, Newmont's Form 10-Q for the quarter ended June 30, 2025, provides further insights into the company's operations and financial performance. It is important to note that Newmont's forward-looking statements are subject to risks and uncertainties.
The offers are for the following series of notes: 2.800% senior notes due 2029, 2.250% senior notes due 2030, 3.250% notes due 2030, 6.250% senior notes due 2039, 4.875% senior notes due 2042, 5.750% notes due 2041, 5.450% notes due 2044, 5.875% notes due 2035, and 2.600% sustainability-linked notes due 2032.
The offers are being made pursuant to the terms and conditions set forth in the offer to purchase dated July 28, 2025. The offers will expire at 5:00 p.m., Eastern Time, on August 25, 2025, unless terminated earlier by Newmont.
The tender offers by Newmont Corporation, a key player in the mining industry, aim to repurchase a portion of its outstanding notes in the finance sector, specifically in the banking-and-insurance category of securities. These tender offers are being managed by three reputable financial institutions.
Newmont Corporation's decision to repurchase its notes could impact the overall financial landscape, as the company is a significant player in the gold and other mineral markets, with operations in various industries.
