Alcoa Raises $2.6 Billion in Senior Notes for South32 Deal; Terminates Bridge Loan

Alcoa raised $2.6 billion through two senior notes offerings to fund the cash portion of its proposed acquisition of South32 interests and related fees. The company issued $1.5 billion of 6.625% notes due 2034 and $1.1 billion of 6.875% notes due 2036, each guaranteed by Alcoa and certain subsidiar…