Alcoa Corp 8-K Filing

On September 23, 2026, Alcoa Corporation announced the completion of its offering of $1,500,000,000 aggregate principal amount of 6.625% senior notes due 2034 and $1,100,000,000 aggregate principal amount of 6.875% senior notes due 2036. These notes were issued by wholly-owned subsidiaries of Alcoa Corporation. The proceeds from the notes offering are intended to fund the approximately $3.1 billion cash portion of the acquisition of South32 Limited’s interests in bauxite, alumina, and aluminum smelter operations. The offering included restrictive covenants limiting the issuers' ability to create liens, sell assets, and enter into sale and leaseback transactions. The notes may be redeemed under certain conditions, including a "make-whole" redemption and a special mandatory redemption if the acquisition is not completed. The company also terminated its senior unsecured 364-day bridge term loan credit facility. The notes were sold in a private placement to qualified institutional buyers and certain non-U.S. persons.