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Alcoa Closes Debt Offering to Fund Acquisition of South32's Bauxite, Alumina and Aluminum Smelter Operations

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Alcoa (ASX:AAI) closed the debt offering of $2.6 billion aggregate principal amount of senior notes to fund the acquisition of South32's (ASX:S32) interests in certain bauxite, alumina and aluminum smelter operations, the aluminum company said in a statement on Thursday.

The notes consist of $1.5 billion aggregate principal amount of 6.625% senior notes due 2034, issued by Alumina, and $1.1 billion aggregate principal amount of 6.875% senior notes due 2036, issued by Alcoa Nederland, the statement said.

Additionally, the company has terminated all outstanding obligations related to the senior unsecured 364-day bridge term loan credit facility associated with the acquisition.

South32 shares rose nearly 1% in midday trade Thursday.

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