10th Sep 2026 01:55
Alcoa Corp - Pittsburgh, Pennsylvania-based bauxite, alumina and aluminium producer- Prices a previously announced USD2.60 billion debt offering to finance the USD3.1 billion cash consideration for the acquisition of bauxite, alumina and aluminium producer assets from Perth, Australia-based miner South32 Ltd as announced in July. The offering includes a USD1.50 billion note due 2034 with a 6.625% coupon and a USD1.10 billion note due 2036 with a 6.875% coupon. Alcoa expects the sale of the notes to be completed on September 23.
"Together with cash on hand, the proceeds of the issuance of the notes are intended to provide permanent financing for the acquisition. Alcoa expects to terminate any remaining outstanding commitments in respect of the senior unsecured 364-day bridge term loan credit facility entered into in connection with the acquisition upon the completion of the offering," Alcoa says.
Current stock price: USD50.73
12-month change: up 62%
By Elijah Dale, Alliance News senior reporter Asia-Pacific
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
South32 Limited