Alcoa Corporation (AA) Closes $2.6B Notes to Fund South32 Asset Deal

Alcoa closed $2.6B in senior notes (6.625% due 2034; 6.875% due 2036) to fund approximately $3.1B cash consideration for its proposed acquisition of South32’s bauxite, alumina and aluminum assets; the bridge loan commitments were terminated. Deal closing remains subject to approvals.Material Detail…