Alcoa proposes $2.6 billion senior notes offering to fund South32 assets deal
AA•Closing conditions
Closing of the acquisition remains subject to South32 shareholder approval, regulatory clearances, and customary conditions.
Financing plan and bridge facility
The deal financing is intended to be permanent, with plans to terminate the remaining commitments under a 364-day bridge facility once the notes are issued.
Proposed notes offering to fund acquisition
Alcoa launched a proposed offering of $2.6 billion in senior notes, split between notes due 2034 and notes due 2036.
Net proceeds, together with cash on hand, are earmarked to fund the roughly $3.1 billion cash portion of its South32 assets acquisition.
