Newmont Closes Term Loan and Extends $3 Billion Corporate Revolver


DENVER--(BUSINESS WIRE)-- Newmont Mining Corporation (NYSE: NEM) (“Newmont” or the “Company”) announced today the close of its previously announced five-year, amortizing term loan of $575 million. The term loan provides for a single, delayed drawdown through July 15, 2014, with a maturity date five years from drawdown. The loan is intended to repay the $575 million of convertible debt maturing in July 2014. In conjunction with the term loan, the Company also renewed its $3.0 billion corporate revolving credit facility, extending the maturity date two years to March 31, 2019.

“We are pleased with the confidence our lenders have expressed in Newmont’s long-term success,” said Laurie Brlas, Executive Vice President and Chief Financial Officer. “The term loan allows us to repay the 2014 maturities and provides the flexibility to reduce debt over the coming years. Extending the maturity of our revolving credit facility ultimately enhances our corporate liquidity profile.”

Both bank facilities are unsecured and include a single financial covenant requiring a net-debt-to-capitalization ratio below 62.5 percent. As of December 31, 2013, the Company’s leverage ratio, as defined, was 29 percent.

Cautionary Statement:

This 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. Such forward-looking statements may include, without limitation, statements regarding the timing and/or likelihood of closing the credit facility. Where the Company 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 results to differ materially from future results expressed, projected or implied by the "forward-looking statements". Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks in the countries in which we operate, the receipt of third party approvals, the satisfaction or waiver of certain conditions specified in the commitment letter and/or the credit facility, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company's 2013 Annual Report on Form 10-K, filed on February 21, 2014 with the Securities and Exchange Commission, as well as the Company's other SEC filings. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news 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.

Source: Newmont Mining Corporation

Newmont Mining Corporation

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