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07 Oct 2026

Alumina Pty Ltd and Alcoa Nederland Holding B.V. $2.6 Billion High‑Yield Senior Notes Offering

"Cravath represented the initial purchasers in a $2.6 billion 144A/Reg S high‑yield senior notes offering by Alumina Pty Ltd and Alcoa Nederland Holding B.V., wholly owned subsidiaries of Alcoa Corporation. Proceeds will finance Alcoa’s acquisition of South32 Limited’s interests in a bauxite mine, an alumina refinery and certain smelter operations; the deal closed Sept 23, 2026."

Cravath represented the initial purchasers in connection with the $2.6 billion 144A/Reg S high‑yield senior notes offering of Alumina Pty Ltd and Alcoa Nederland Holding B.V., wholly owned subsidiaries of Alcoa Corporation, a global industry leader in the production of bauxite, alumina and aluminum products. Proceeds of the offering will be used to finance Alcoa Corporation's acquisition of the interests of South32 Limited in a bauxite mine, an alumina refinery and certain aluminum smelter operations. The transaction closed on September 23, 2026. Cravath represented the initial purchasers with a team composed by: partner Ryan J. Patrone and associates Courtney T. Seager, Nathaniel E. Hatter, Q. Cindy Yuan and Yang Hyun (Yanni) Cho on capital markets matters; partner Arvind Ravichandran and associates Cameron Averill and Jonathan Jiang on tax matters; and of counsel Annmarie M. Terraciano on environmental matters.
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