Novelis Inc. (“Novelis”), the world leader in aluminum rolling and recycling, today announced that its indirect wholly-owned subsidiary, Novelis Corporation, is proposing to offer $1.5 billion aggregate principal amount of its senior notes (the “Notes”), in a private offering that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). The Notes will be guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain of Novelis’ subsidiaries.
Novelis intends to use the net proceeds of the offering to fund the repayment of all of Novelis’ outstanding 8.75% Senior Notes due 2020 pursuant to its previously announced tender offer or otherwise, with any remaining proceeds for general corporate purposes.
The Notes have not been registered under the Securities Act and have not and will not be offered or sold within the United States or to U.S. persons, except to qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain persons in offshore transactions in reliance on Regulation S under the Securities Act.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. Any offers of the Notes will be made only by means of a private offering circular.
There can be no assurances that the offering of the Notes will be completed as described herein or at all.
