Newmont Mining to Issue New Debt (NEM)

Newmont Mining Corp. (NYSE: NEM) has filed a notice with the SEC to offer senior unsecured notes from its existing shelf registration. The company did not specify the amount for the notes, the interest rate, or an issue date.

According to the press release:

The Company intends to use net proceeds from the offering for (i) repayment of the outstanding balance under the Company’s senior revolving credit facility (which was drawn upon in January and February 2012 principally to repay the Company’s 2012 convertible senior notes and to pay a portion of the payments in connection with the exercise of the early purchase option under the sale-leaseback for the Company’s refractory ore treatment plant in Nevada), (ii) settlement of certain forward starting swaps contracts, (iii) remaining payments to be made during 2012 in connection with the exercise of the early purchase option under the sale-leaseback agreement relating to the Company’s refractory ore treatment plant in Nevada, and (iv) general corporate purposes (which may include funding associated with exploration, the development of the Company’s project pipeline or dividends or other forms of capital return to the Company’s shareholders). The Company intends to place the remaining proceeds in short-term liquid investments.