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Kaiser Aluminum to Offer New Senior Notes in Private Placement, Conditionally Redeem Outstanding Senior Notes

05/11/2021 05:58

09:47 AM EDT, 05/11/2021 (MT Newswires) -- Kaiser Aluminum (KALU) unveiled Tuesday a private offering of senior notes due 2031 worth $500 million, subject to market conditions.

Certain local subsidiaries of Kaiser will guarantee the notes.

Net proceeds will be used for the full redemption of the aluminum company's 6.500% senior notes due 2025 worth $350 million as well as for general corporate purposes, such as capital spending and acquisitions.

Additionally, Kaiser disclosed its plans to redeem the 2025 notes on May 21, which is dependent on the completion of the notes offering.

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