Novelis to redeem 5 7/8% notes due 2026 using proceeds of new notes

By Rebecca Melvin

Concord, N.H., July 26 – Novelis Corp. plans to redeem its 5 7/8% senior notes due September 2026 using proceeds of a new notes offering, according to a company news release.

The company is pricing a $1.5 billion two-part offering of senior notes in a Monday drive-by deal following a conference call with investors, according to market sources.

BofA Securities Inc., Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Standard Chartered Bank and Wells Fargo Securities LLC are the joint bookrunners.

Axis, BMO Capital Markets Corp., BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., ING Financial Markets LLC, Mizuho Securities USA Inc., MUFG, PNC Capital Markets LLC, Regions Securities LLC, SMBC Nikko Securities America Inc. and SG Americas Securities LLC are the co-managers.

Novelis is an Atlanta-based producer and recycler of aluminum products.

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