Newmont announces pricing of senior notes expected to raise nearly $2 billion
By APTuesday, September 15, 2009
Newmont announces pricing of senior notes
DENVER — Newmont Mining Corp. announced pricing Tuesday for senior notes that it expects will raise $1.97 billion in net proceeds for working capital.
The company said it would issue $900 million in 5.125 percent senior notes due in 2019 and $1.1 billion in 6.25 percent senior notes due in 2039.
The offering is expected to close on Sept. 18.
Newmont said the notes will be guaranteed on a senior unsecured basis by its Newmont USA Ltd. subsidiary.
The company said the net proceeds, after discounts and expenses, would be used for working capital and general corporate purposes, including developing new projects or making acquisitions. It said no specific acquisitions have been identified.
Shares of Greenwood Village, Colo.-based Newmont rose 97 cents, or 2.1 percent, to $46.73.
