Alcoa announces cash tender offer for $750M 5.500% notes due 2027 at $1,002.47 per $1,000

Alcoa Corp

Consideration per $1,000 principal is $1,002.47 (excl. accrued interest); yield based on 2.875% UST due June 2025 plus 0 bps spread.
Outstanding principal of $750M; notes issued by Alcoa Nederland Holding B.V., fully guaranteed by Alcoa.
Tender offer expires March 14, 2025; settlement expected March 19, 2025.
Offer conditioned on financing condition; dealer managers are Morgan Stanley and BofA Securities.

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