Alcoa launches USD 2.6 billion senior notes offering to fund South32 asset acquisition cash payment

Alcoa is pursuing an acquisition of South32’s interests in selected bauxite, alumina, and aluminum smelter operations.

• Planned financing includes a $2.6 billion senior notes offering, split between notes due 2034 and notes due 2036.
• Net proceeds, with cash on hand, are intended to fund the roughly $3.1 billion cash portion of the purchase price.
• The funding package is expected to replace a previously arranged senior unsecured 364-day bridge term loan facility tied to the deal.
• Closing remains subject to conditions, including South32 shareholder approval and required regulatory clearances.