Newcrest Issue of $1 billion 144A and Reg S bonds

Newcrest to issue $1,000 million in bonds ($1 billion)

Newcrest Mining is raising US$1,000 million after a successful issue of corporate bonds.

It debuted the offer in the United States Rule 144A and Regulation S bond markets.

Its offering consists of US$750 million senior unsecured notes due 15 November 2021, with a coupon of 4.450% and US$250 million senior unsecured notes due 15 November 2041, with a coupon of 5.750%.

According to Newcrest the funds will be used to pay existing unsecured debts, as well as for the miner’s major growth projects.

Newcrest’s CEO said the company is “pleased to have successfully priced our first Rule 144A corporate bond issue.

“The notes provide very competitive long term capital and further diversify Newcrest’s sources of funding”.

Settlement of the offering of the notes is expected to occur on 15 November.

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