Gold miner Newcrest Mining has priced $1.15-billion worth of senior secured notes to institutional buyers in the US.
The miner on Friday said that $650-million of the notes will have a ten-year maturity rate, maturing in May 2030, with a fixed rate coupon of 3.25% a year, while a further $500-million will have a 30-year maturity, maturing in May 2050, with a fixed coupon rate of 4.2%.
The miner told shareholders that the proceeds will be used to repurchase existing near-term corporate bond maturities.