US-based Novelis Inc plans to raise $750 million via issuance of bond

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US-based Novelis Inc plans to raise $750 million via issuance of bond - Business Standard

Quick Summary:

Novelis intends to use the net proceeds from the proposed offering to repay USD 738 million of outstanding debt and any remaining proceeds to fund cash on its balance sheet."Novelis Inc...today announced that its indirect wholly-owned subsidiary Novelis Corporation has priced an offering of USD 750 million aggregate principal amount of 6.875 per cent senior notes due in January 2030, which represents an increase of USD 250 million from the offering size previously announced," it informed the bourses.

US-based Novelis Inc, which is part of Hindalco Industries, on Thursday said its indirect wholly-owned arm plans to raise USD 750 million through issuance of bonds.

Novelis Inc, a sustainable aluminum solutions provider, had reported an 18 per cent decline in net income at USD 128 million in the September quarter of 2024-25.