* Says its units enters into loan agreement * Says P.T. Pukuafu will use loan proceeds to repay debt
Dec 22 (Reuters) - Newmont Mining Corp said its units Newmont Indonesia Ltd and NVL USA Ltd entered into a loan agreement with Indonesian company P.T. Pukuafu Indah (PTPI).
Of the total proceeds, PTPI used $287 million to repay debt. The company agreed to pledge all its shares, as well as the 20 percent stake it holds in PT Newmont Nusa Tenggara (PTNNT) to NVL as collateral for the loan.
Newmont Mining also currently holds a 35.44 percent interest in PTNNT through a subsidiary.
Newmont said repayment of the loan prior to its maturity date of Dec. 31, 2019 will be made from dividends attributable to the pledged shares and other payments until the balance is repaid.
Shares of Denver-based Newmont closed at $46.75 Tuesday on the New York Stock Exchange.
(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: NEWMONTMINING/ (thyagaraju.adinarayan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: thyagaraju.adinarayan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Dec 22 (Reuters) - Newmont Mining Corp said its units Newmont Indonesia Ltd and NVL USA Ltd entered into a loan agreement with Indonesian company P.T. Pukuafu Indah (PTPI).
Of the total proceeds, PTPI used $287 million to repay debt. The company agreed to pledge all its shares, as well as the 20 percent stake it holds in PT Newmont Nusa Tenggara (PTNNT) to NVL as collateral for the loan.
Newmont Mining also currently holds a 35.44 percent interest in PTNNT through a subsidiary.
Newmont said repayment of the loan prior to its maturity date of Dec. 31, 2019 will be made from dividends attributable to the pledged shares and other payments until the balance is repaid.
Shares of Denver-based Newmont closed at $46.75 Tuesday on the New York Stock Exchange.
(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Jarshad Kakkrakandy) Keywords: NEWMONTMINING/ (thyagaraju.adinarayan@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: thyagaraju.adinarayan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.