Novelis Inc.: debt financing — Novelis issues $400M in 5.00% tax-exempt bonds for Alabama waste facility

Novelis Inc.

$400M in Series 2025A Solid Waste Disposal Revenue Bonds issued at 5.00% per annum.
Bonds mature June 1, 2055; mandatory tender for purchase on June 1, 2032.
Proceeds finance construction of solid waste disposal facilities in Baldwin County, Alabama.
Bonds guaranteed by Novelis Inc. and certain subsidiaries under Guaranty Agreement.
Bonds are tax-exempt and not registered under Securities Act; sold at 100% of principal.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Novelis Inc. incurred loan of $400 million with Industrial Development Authority of Baldwin County at 5.00% per annum maturing June 1, 2055.

Instrument: loan
Principal: $400 million
Counterparty: Industrial Development Authority of Baldwin County
Rate: 5.00% per annum
Maturity: June 1, 2055
Event: incurrence

Exact text from the filing

the Issuer loaned $400 million in proceeds from the sale of Solid Waste Disposal Revenue Bonds (Novelis Corporation Project), Series 2025A, in the aggregate principal amount of $400 million (the "Bonds"), to the Company to finance a portion of the costs of the construction of the Company's solid waste disposal facilities located in Baldwin County, Alabama.

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Source: SEC EDGAR

accession 0001304280-25-000025

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