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Friday, March 29, 2024

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  1. phil

    Newmont, Barrick bonds rally on merger talks

    Yesterday, 04:59 PM ET · NEM

    • The bond market is rooting for a merger of Newmont Mining (NEM) and Barrick Gold (ABX), sending bond prices higher amid reports the companies have recently explored a merger, which could help shore up their finances while gold prices are down.
    • NEM debt maturing in 2042 was the second-most-traded U.S. corporate bond today, with ~$65M of bonds changing hands, trading with a yield of ~5.90% vs. ~6.15% earlier this month; ABX debt maturing in 2043 was yielding 5.64%, down from ~5.80% earlier in the month.
    • Bonds from investment-grade metals and mining companies have performed well YTD, returning 4.51% vs. 3.59% for investment-grade companies overall.
    var isMC=true; var adSize=’320×50′; var ord = Math.floor(Math.random()*10e12); var seekingalpha_ad_src=’http://ad.doubleclick.net/N6001/adj/sek.mobile/app;sz=320×50,320×250;x=x;tile=1;d=mobile;t=app;mcid=true;mcid=1683553;s=NEM;s=ABX;’+dart_my_vocation_and_profiles()+’ord=’+ord+’;dev=ip?’; document.write(”);



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