Goldcorp Deleverages before Next Capital-Intensive Cycle

At the end of 4Q17, its net debt and adjusted net debt was $2.2 billion and $2.1 billion, respectively, which implies a reduction of 3% and 5%, respectively, from its net and adjusted net debt at the end of 2016. In 2017, the company repaid $160 million in project finance facilities for Pueblo Viejo. Goldcorp has $500 million in debt due March 15, 2018, which it intends to repay through either cash from operations or drawing on its credit facility. It expects liquidity and free cash flow over the next five years to drive down its net debt to zero.