DBRS Assigns BBB (high) Rating to Newmont’s New Debt Issuance

DBRS is today assigning the rating of BBB (high), with a Stable trend, to the $450 million Convertible Senior Notes (Notes) issued by Newmont Mining Corporation. The Notes will pay 3.00% semi-annually and mature on February 15, 2012, unless they are repurchased or converted at an earlier date. Net proceeds from the offering are intended to fund the acquisition of a 33.33% interest in the Boddington project in Western Australia as well for general corporate purposes.

The Notes will be convertible under certain circumstances and during certain periods at an initial conversion rate of 21.6216 shares of common stock per $1,000 principal amount of Notes (representing an initial conversion price of approximately $46.25 per share of common stock), subject to adjustment in certain circumstances.

Notes:
All figures are in U.S. dollars unless otherwise noted.

The applicable methodology is Rating Mining, which can be found on our website under Methodologies.

This is a Corporate rating.