Newmont Announces Sustainability-Linked Revolving Credit Facility

April 5, 2021

Newmont Corporation announced that it has executed a $3 billion sustainability-linked revolving credit facility. The credit facility includes a pricing feature based upon third-party sustainability performance measures and includes overall improved pricing from the previous facility. This new credit facility expires in March 2026, amending and extending the credit facility executed in 2019.

“Our sustainability-linked credit facility further demonstrates Newmont’s unwavering commitment to industry-leading environmental, social and governance (ESG) practices,” Newmont President and CEO Tom Palmer said in a statement. “Our sustainability framework is at the core of what we do, and we believe that strong ESG performance is a key indicator of a well-managed business. By aligning our financial performance and our ESG performance, we are holding ourselves accountable to delivering on our purpose to create value and improve lives through responsible and sustainable mining.”

Newmont is one of the first in the mining industry to add a sustainability-linked pricing component to its revolving credit facility. Under the new facility, the company will incur positive or negative pricing adjustments on drawn balances based on certain sustainability performance criteria. Sustainability performance is measured through independent ratings published by MSCI and S&P Global, global leaders in ESG and Corporate Governance research and ratings.

 

Related article search: