---
schema_version: "secwatch.filing_event.v1"
accession: "0001304280-25-000016"
form_type: "8-K"
ticker: null
cik: "0001304280"
company_name: "Novelis Inc."
filed_at: "2025-03-12T23:59:59+00:00"
generated_at: "2026-05-24T22:07:42.236485+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Novelis closes $1.25B term loan refinancing; new facility matures 2032

## Summary
- Borrowed $1.25B in full on March 11, 2025 under new Term Loan Credit Agreement.
- Proceeds used to repay existing 2017 term loan, plus general corporate purposes and expenses.
- New term loan matures March 11, 2032, with 0.25% quarterly amortization; interest at base+1% or SOFR+2%.
- No financial maintenance covenant; cross-default trigger at $100M and customary negative covenants.
- Also amended ABL Facility for additional operational flexibility and released Parent restrictions.

## SEC filing metadata
- accession: 0001304280-25-000016
- form_type: 8-K
- cik: 0001304280
- company_name: Novelis Inc.
- filed_at: 2025-03-12T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 1.02, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1304280/000130428025000016/0001304280-25-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1304280/000130428025000016/nvl-20250311.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001304280-25-000016
- JSON: https://secwatch.observer/filing/0001304280-25-000016.json
- Plain text: https://secwatch.observer/filing/0001304280-25-000016.txt

## Key facts
- Debt Financings
  Novelis Inc. incurred term loan of $1,250,000,000 with Citibank, N.A. at one, three or six-month Term SOFR, as applicable, plus 2.00% maturing March 11, 2032.
  - Instrument: term loan
  - Principal: $1,250,000,000
  - Counterparty: Citibank, N.A.
  - Rate: one, three or six-month Term SOFR, as applicable, plus 2.00%
  - Maturity: March 11, 2032
  - Event: incurrence
  source text: On March 11, 2025, Novelis Inc. (the "Company") entered into a credit agreement (the "Term Loan Credit Agreement") by and among Novelis Holdings Inc., as borrower, Novelis Inc. and the other guarantors party thereto, the lenders party thereto, and Citibank, N.A., as administrative agent and collateral agent (the "Agent"). The Term Loan Credit Agreement provided the Company with $1,250,000,000 of commitments, which the Company borrowed in full (such borrowing, the "Term Loan") on March 11, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1304280/000130428025000016/0001304280-25-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.