Kaiser Aluminum Corporation Announces Upsizing and Pricing of Senior Notes Offering
Kaiser Aluminum Corporation (Nasdaq: KALU) announced today that it has priced its previously announced offering of $225.0 million in aggregate principal amount of 8.25% senior notes due 2020 (the "notes") in a private transaction that is exempt from the registration requirements of the Securities Act of 1933 (the "Act"). This represents an increase of $25.0 million over the amount previously announced. The notes will be guaranteed by each of Kaiser Aluminum's existing and future domestic subsidiaries that is a borrower or guarantor under Kaiser Aluminum's revolving credit facility.
Kaiser Aluminum intends to use the net proceeds from the offering of the notes for general corporate purposes, which may include, among other things, acquisitions. The consummation of the offering of notes is expected to be completed on May 23, 2012, subject to customary closing conditions.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.