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Alcoa Extends $1.25 Billion Revolving Credit Facility to 2028

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-- Alcoa (ASX:AAI), along with its subsidiary Alcoa Nederland Holding and other affiliates, amended its existing $1.25 billion revolving credit agreement with a syndicate of lenders, according to a Tuesday Australian bourse filing.

The amendment extends the facility's maturity to June 27, 2028, and removes select pricing components, including the secured overnight financing rate credit spread adjustment and sustainability-linked rate and fee adjustments, the filing said.

The company made a one-time payment of an amendment fee equal to about 0.1% of each participating lender's commitment to the lenders that agreed to the amendment, the filing added.

Alcoa's shares shed 1% in recent Tuesday trade.

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