Alcoa closes USD 2.6 billion senior notes offering to help fund South32 assets deal
AA•Senior notes offering closed to fund acquisition
Alcoa closed a USD 2.6 billion senior notes offering to help fund the cash portion of its proposed acquisition of South32 assets.
- Issuance included USD 1.5 billion of 6.625% senior notes due 2034, issued by Alumina Pty Ltd.
- The deal also included USD 1.1 billion of 6.875% senior notes due 2036, issued by Alcoa Nederland Holding B.V.
- Net proceeds, together with cash on hand, are earmarked for the roughly USD 3.1 billion cash consideration, fees and expenses.
- Alcoa terminated the remaining commitments under its 364-day bridge term loan facility tied to the transaction.
