On March 5, 2024, Alcoa Corporation (the “Company”) announced that it is commencing a series of fixed income investor calls. Subject to market conditions, a $750 million 7-year senior unsecured notes offering by Alcoa Nederland Holding B.V., a wholly-owned subsidiary of the Company, which would be guaranteed by the Company and certain subsidiaries, may follow. An amount equal to the net proceeds of any potential offering would be allocated to finance and/or refinance new and/or existing eligible green projects that meet certain eligibility criteria in alignment with the International Capital Market Association’s 2021 Green Bond Principles. The net proceeds of any such potential offering would support the Company’s cash position and ongoing cash needs, including with respect to its previously announced portfolio actions, following reductions to date in the Company’s cash and cash equivalents as further discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
This report does not constitute an offer to sell or a solicitation of an offer to buy any notes or related guarantees or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale would be unlawful.
If an offering were to occur, any notes and related guarantees would be sold in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-United States persons in offshore transactions in accordance with Regulation S under the Securities Act. The notes and related guarantees would not be registered under the Securities Act or the securities laws of any other jurisdiction and would not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
This Current Report on Form 8-K contains statements that relate to future events and expectations, including those relating to whether any potential offering proceeds or closes and the use of proceeds from any potential offering, and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “aim,” “ambition,” “anticipates,” “believes,” “could,” “develop,” “endeavors,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,” “plans,” “potential,” “projects,” “reach,” “seeks,” “sees,” “should,” “targets,” “will,” “working,” “would,” or other words of similar meaning. All statements by the Company that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although the Company believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained, and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in the Company’s filings with the Securities and Exchange Commission. The Company disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.
