Alcoa Corporation completed a $2.6 billion senior notes offering to fund the approximately $3.1 billion cash portion of its proposed acquisition of South32 Limited’s bauxite, alumina, and aluminum smelter operations. The issuance includes $1.5 billion of 6.625% senior notes due 2034 and $1.1 billion of 6.875% senior notes due 2036, both guaranteed by Alcoa. Concurrently, the company terminated its remaining commitments under the senior unsecured 364-day bridge term loan credit facility associated with the transaction. The acquisition remains subject to shareholder approval and regulatory clearances. Alcoa Corporation is a global industry leader in bauxite, alumina, and aluminum products.
