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Kaiser Aluminum Corporation Announces Closing of New Senior Notes Offering
FRANKLIN, Tenn.--(BUSINESS WIRE)-- Kaiser Aluminum Corporation (NASDAQ: KALU) (the "Company" or "Kaiser Aluminum") today announced that it has closed its
About this update from Kaiser Aluminum Corporation
[{"type":"text","content":" FRANKLIN, Tenn.--(BUSINESS WIRE)--\nKaiser Aluminum Corporation (NASDAQ: KALU) (the \"Company\" or \"Kaiser Aluminum\") today announced that it has closed its offering of $500.0 million aggregate principal amount of 5.875% senior notes due 2034 (the “notes”) in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”). The notes are or will be guaranteed by each of Kaiser Aluminum’s existing and future domestic subsidiaries that is a borrower or guarantor under Kaiser Aluminum’s revolving credit facility.\n\nThe notes will pay interest semiannually at a rate of 5.875% per annum. Kaiser Aluminum intends to use the net proceeds from the offering of the notes, together with borrowings under its revolving credit facility and/or cash on hand, to redeem all outstanding amounts of Kaiser Aluminum’s existing 4.625% senior notes due 2028.\n\nThe notes and the related guarantees have not been and will not be registered under the Act or the securities laws of any other place and may not be offered or sold in the United States absent registration or an applicable exemption therefrom. The notes will be offered only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S.\n\nThis press release does not constitute an offer to sell or a solicitation of an offer to buy the notes and the related guarantees, and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This notice is being issued pursuant to and in accordance with Rule 135c under the Act.\n\nAbout Kaiser Aluminum Corporation\n\nKaiser Aluminum Corporation, headquartered in Franklin, Tenn., is a leading producer of semi-fabricated specialty aluminum products, serving customers worldwide with highly-engineered solutions for aerospace and high-strength, packaging, general engineering, automotive extrusions, and other industrial applications. The Company’s North American facilities produce value-added plate, sheet, coil, extrusions, rod, bar, tube, and wire products, adhering to traditions of quality, innovation, and service that have been key components of the culture since the Company was founded in 1946. The Company’s stock is ...