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Newmont Sells First Sustainability-Linked Bonds From a Miner

  • The bonds are tied to its emission, women representation goals
  • Sales of sustainability-linked bonds at a record this year
Workers use backhoes to dig a pool for groundwater stocking at the Yanacocha gold mine in Cajamarca, Peru, on Thursday, Oct. 22, 2015. Operations at Yanacocha, South America's largest gold mine, are a joint venture between Newmont Mining Corp., Minas Buenaventura and International Finance Corp.
Workers use backhoes to dig a pool for groundwater stocking at the Yanacocha gold mine in Cajamarca, Peru, on Thursday, Oct. 22, 2015. Operations at Yanacocha, South America's largest gold mine, are a joint venture between Newmont Mining Corp., Minas Buenaventura and International Finance Corp.Photographer: Dado Galdieri/Bloomberg
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Newmont Corp., one of the world’s largest gold miners, sold $1 billion of bonds giving it a financial incentive to cut emissions and improve corporate governance, the first company in the energy-intensive industry to issue such securities.

The company’s 10-year bonds will pay investors a higher interest rate if it fails to cut emissions, or to sufficiently boost the percentage of women in its senior leadership positions by 2030, Newmont said in a filing. The securities priced on Monday and will yield 1.17 percentage point more than Treasuries, according to a person with knowledge of the matter.