Novelis Inc.: debt financing — Novelis reduces Term Loan margin by 25 bps and issues $100M municipal bonds at 4.625%

Novelis Inc.

Term Loan Applicable Margin reduced 25 bps to 0.75% (base) and 1.75% (SOFR); prepayment premium window extended to March 16, 2026.
Issued $100M Solid Waste Disposal Revenue Bonds, Series 2025B, at 4.625% interest, due June 1, 2055, mandatory tender June 1, 2032.
Proceeds finance solid waste disposal facilities in Baldwin County, Alabama; bonds tax-exempt and guaranteed by Novelis Inc. and certain subs.
Bonds sold at 100% of principal; semiannual interest payments start Jan 15, 2026.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Novelis Inc. incurred loan of $100,000,000 with The Industrial Development Authority of Baldwin County at 4.625% per annum maturing June 1, 2055.

Instrument: loan
Principal: $100,000,000
Counterparty: The Industrial Development Authority of Baldwin County
Rate: 4.625% per annum
Maturity: June 1, 2055
Event: incurrence

Exact text from the filing

On September 18, 2025, Novelis Corporation (the "Company"), a wholly-owned subsidiary of the Parent, completed a financing transaction pursuant to which the Company entered into a Loan Agreement, dated as of September 1, 2025 (the "Loan Agreement"), with The Industrial Development Authority of Baldwin County (the "Issuer"), whereby the Issuer loaned $100 million in proceeds from the sale of Solid Waste Disposal Revenue Bonds (Novelis Corporation Project), Series 2025B, in the aggregate principal amount of $100 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 0001304280-25-000047

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