Newmont Corporation Announces Pricing of the Tender Offers for its 3.500% Senior Notes due 2022, its 3.700% Notes due 2023 and Goldcorp’s 3.700% Notes due 2023

DENVER--(BUSINESS WIRE)--Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today the pricing terms of the previously announced offers (each, a “Tender Offer” and, collectively, the “Tender Offers”) to purchase for cash up to the applicable Maximum Principal Tender Amount of (i) the 3.500% Senior Notes due 2022 issued by Newmont (the “Newmont 2022 Notes”), (ii) the 3.700% Notes due 2023 issued by Newmont (the “Newmont 2023 Notes”) and (iii) the 3.700% Notes due 2023 issued by Goldcorp Inc., a wholly-owned subsidiary of Newmont (the “Goldcorp 2023 Notes” and, together with the Newmont 2022 Notes and the Newmont 2023 Notes, 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 March 4, 2020 (the “Offer to Purchase”), as supplemented by the press release issued by Newmont on March 17, 2020.

The total consideration to be paid for each series of Notes accepted for purchase pursuant to the applicable Tender Offer was determined by reference to (i) the applicable fixed spread for such series of Notes set forth in the table below and (ii) the applicable yield (the “Reference Yield) for such series of Notes based on the bid side price of the U.S. Treasury Security set forth in the table below (the “Total Consideration”). The applicable Reference Yield for each series of Notes was calculated by the Dealer Managers (as defined below) in accordance with standard market practice at 10:00 a.m., New York City time, on March 18, 2020. The Total Consideration for each series of Notes includes an early tender payment (the “Early Tender Payment”) of $30.00 per $1,000 principal amount of Notes of each series validly tendered (and not validly withdrawn) and accepted for purchase pursuant to the applicable Tender Offer.

The following table sets forth the pricing information for each Tender Offer:

Title of Security	Issuer	CUSIP Numbers	Reference U.S. Treasury Security	Reference Yield	Fixed Spread (Basis Points)	Total Consideration ^(1)(2)
3.500% Senior Notes due 2022	Newmont Corporation	651639 AN6	2.375% UST due 03/15/2022	0.471%	25	$1,054.78
3.700% Notes due 2023	Newmont Corporation	651639 AS5	2.625% UST due 02/28/2023	0.650%	25	$1,082.39
		651639 AT3
		U65163 AC8
3.700% Notes due 2023	Goldcorp Inc.	380956 AD4	2.625% UST due 02/28/2023	0.650%	35	$1,079.31

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(1)	Includes an early tender payment of $30.00 per $1,000 principal amount of Notes of each series validly tendered (and not validly withdrawn) and accepted for purchase pursuant to the applicable Tender Offer.
(2)	Per $1,000 principal amount of the Notes of such applicable series validly tendered (and not validly withdrawn) and accepted for purchase pursuant to the applicable Tender Offer.

In addition to the applicable Total Consideration for each series of Notes, holders who have validly tendered (and not validly withdrawn) their Notes at or prior to 5:00 p.m., New York City time, on March 17, 2020 (the “Early Tender Deadline”) and whose Notes were 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 March 19, 2020.

Although the Tender Offer for the Newmont 2023 Notes is scheduled to expire at 11:59 p.m., New York City time, on March 31, 2020, because, as of the Early Tender Deadline, holders of the Newmont 2023 Notes have validly tendered (and not validly withdrawn) Notes of such series in an amount that exceeds the amended Maximum Principal Tender Amount for the Newmont 2023 Notes, Newmont does not expect to accept for purchase tenders of the Newmont 2023 Notes following the Early Tender Deadline. The Newmont 2023 Notes that have been validly tendered (and not validly withdrawn) at or prior to the Early Tender Deadline will be subject to proration as set forth in the Offer to Purchase. Any Newmont 2023 Notes tendered at or prior to the Early Tender Deadline and not accepted for purchase pursuant to the applicable Tender Offer or tendered following the Early Tender Deadline will be promptly credited to the account of the registered holder of such Newmont 2023 Notes maintained at The Depositary Trust Company and otherwise returned in accordance with the terms of the Offer to Purchase.

Holders of the Newmont 2022 Notes and the Goldcorp 2023 Notes who validly tender their Newmont 2022 Notes or Goldcorp 2023 Notes, as the case may be, after the Early Tender Deadline, but on or prior to the Expiration Date, will be eligible to receive the “Tender Offer Consideration” for such series of Notes, which is an amount equal to the applicable Total Consideration less the applicable Early Tender Payment.

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 or consents 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 a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. 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. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.

Cautionary Statement Regarding Forward Looking Statements:

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual events or results to differ materially from future events or results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address Newmont’s expected future business, financial performance and financial condition and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” “target,” “indicative,” “preliminary” or “potential.” Such forward-looking statements may include, without limitation, statements regarding expected closing date for an offering of Newmont’s debt securities and the use of proceeds from such offering. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions include, without limitation: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of operations and projects being consistent with current expectations and mine plans, including, without limitation, receipt of export approvals; (iii) political developments in any jurisdiction in which Newmont operates being consistent with its current expectations; (iv) certain exchange rate assumptions being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, zinc, lead and oil; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of current mineral reserve and mineralized material estimates; (viii) other planning assumptions; and (ix) the timely satisfaction of closing conditions and receipt of approvals in connection with pending divestitures. For a more detailed discussion of 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, 2019 filed with the U.S. Securities and Exchange Commission (the “SEC”), under the heading “Risk Factors” available on the SEC website or 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.