Newmont Announces Offering of Notes to Repay Outstanding Borrowings Under Revolving Credit Facility
In a recent financial strategy move, Newmont has announced its intention to offer notes (the “Offering”) as a means to manage its debt effectively. The primary use for the net proceeds from this Offering will be to clear all outstanding borrowings under the company’s revolving credit facility. Any additional funds garnered through this process will serve general corporate purposes.
This initiative follows a significant repayment stage wherein Newmont utilized both borrowings under its revolving credit facility and available cash reserves. This combined approach enabled the repayment of approximately US$1.9 billion in aggregate principal amount of bilateral credit debt. This financial liability had initially been taken on board as part of Newmont’s strategic acquisition of Newcrest Mining Limited.
It’s important to note that this news release does not signify an offer to sell or an invitation to purchase any securities. Nor should it be interpreted as a solicitation for such transactions in any jurisdiction where such activities could contravene relevant securities laws before due registration or qualification under those laws. Furthermore, the securities to be offered have not received approval or disapproval from any regulatory body, and neither has there been a review of the offering’s document adequacy or accuracy.
Regarding securities regulation compliance, the notes will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state or other jurisdiction’s securities laws. Consequently, they may not be offered or sold within the United States unless exempted from registration requirements. The offering is directed exclusively at qualified institutional buyers in line with Rule 144A under the Securities Act and to specific non-U.S. persons according to Regulation S under the same act.
Cautionary Statement Regarding Forward-Looking Statements
This announcement also includes “forward-looking statements” under the protection of applicable legal safe harbors. Such statements might project or predict potential future events or financial outcomes, embodying expectations or beliefs based upon reasonable assumptions. Nonetheless, it’s crucial for stakeholders to understand the inherent risks, uncertainties, and factors potentially leading to substantial discrepancies between anticipated and actual results.
Forward-looking statements often encapsulate projections regarding future business ventures, financial performance, or fiscal health, using terms like “anticipate,” “intend,” “plan,” and similar expressions of futurity or expectation. Specific statements in this release might refer to future securities offers, terms of sales, including guarantees, and the intended use of sales proceeds.
However, actual future results may vary due to several assumptions that might not hold up. These assumptions encompass stable political climates in areas where Newmont operates, favorable market conditions, and the fulfillment of conventional closing conditions associated with such sales, among others.
For an extensive exploration of the risks involved, see Newmont’s Annual Report on Form 10-K for the year concluding on December 31, 2023. This document, filed with the SEC on February 29, 2024, includes a detailed “Risk Factors” section, alongside other factors documented in Newmont’s SEC submissions, accessible via the SEC’s website or Newmont’s official platform at www.newmont.com.
Newmont explicitly clarifies that it holds no obligation to publicly update or revise any “forward-looking statement,” regardless of new information, future events, or otherwise, as mandated by applicable securities laws. Stakeholders are cautioned against unwavering trust in forward-looking statements, recognizing the inherent risks of relying on such future-oriented information.
