Trending...
- Allstream Energy Partners Nominated in Multiple Categories for Fast Company's Best Workplaces for Innovators
- Garage door installation or repair in Minnesota? Which makes more sense for your family?
- Congressman Chuck Edwards (NC-11) Presents ReadyCommunities Partnership 2026 National Service Award to Local Businessman / US Air Force Veteran
PITTSBURGH--(BUSINESS WIRE)--Arconic Corporation (NYSE: ARNC) ("Arconic" or "the Company") announced today a proposed offering of an additional $300 million aggregate principal amount of the Company's 6.125% Senior Secured Second-Lien Notes due 2028 (the "Additional Notes").
The timing and pricing of the Additional Notes are subject to market conditions and other factors. The Company intends to use the net proceeds of the issuance of the Additional Notes for general corporate purposes, including to fund the annuitization of certain pension plan obligations. The Additional Notes will be fully and unconditionally guaranteed, jointly and severally, by each of the Company's wholly-owned domestic subsidiaries, on a senior secured second-priority basis. Each of the Additional Notes and the related guarantees will be secured on a second-priority basis by liens on certain assets of the Company. The Additional Notes will be issued under the indenture governing the Company's existing 6.125% Senior Secured Second-Lien Notes due 2028 (the "Existing Notes"). The Additional Notes will be treated as a single series with the Existing Notes and will have the same terms as the Existing Notes, other than with respect to the date of issuance and issue price.
The Additional Notes and related guarantees will be sold in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act.
More on The PennZone
The Additional Notes and related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Additional Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale would be unlawful. Any offers of the Additional Notes or related guarantees will be made only by means of a private offering memorandum.
About Arconic Corporation
Arconic Corporation (NYSE: ARNC), headquartered in Pittsburgh, Pennsylvania, is a leading provider of aluminum sheet, plate and extrusions, as well as innovative architectural products, that advance the ground transportation, aerospace, building and construction, industrial and packaging markets.
Forward-Looking Statements
This release contains statements that relate to future events and expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Arconic's expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding the intended conduct, timing and terms of the proposed Additional Notes offering, related financing plans and any future actions by Arconic in respect of the proposed Additional Notes. These statements reflect beliefs and assumptions that are based on Arconic's perception of historical trends, current conditions and expected future developments, as well as other factors Arconic Corporation believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance. Although Arconic Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, these expectations may not be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and changes in circumstances, many of which are beyond Arconic's control. Such risks and uncertainties include, but are not limited to our ability to successfully enter into the proposed transactions regarding the Additional Notes on favorable terms within the intended timing and the other risk factors summarized in Arconic Corporation's Form 10-K for the year ended December 31, 2020, and other reports filed with the U.S. Securities and Exchange Commission (SEC). Market projections are subject to the risks discussed in Arconic's reports and other risks in the market. The statements herein are made as of the date of this release, even if subsequently made available by Arconic on its website or otherwise. Arconic disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.
More on The PennZone
The timing and pricing of the Additional Notes are subject to market conditions and other factors. The Company intends to use the net proceeds of the issuance of the Additional Notes for general corporate purposes, including to fund the annuitization of certain pension plan obligations. The Additional Notes will be fully and unconditionally guaranteed, jointly and severally, by each of the Company's wholly-owned domestic subsidiaries, on a senior secured second-priority basis. Each of the Additional Notes and the related guarantees will be secured on a second-priority basis by liens on certain assets of the Company. The Additional Notes will be issued under the indenture governing the Company's existing 6.125% Senior Secured Second-Lien Notes due 2028 (the "Existing Notes"). The Additional Notes will be treated as a single series with the Existing Notes and will have the same terms as the Existing Notes, other than with respect to the date of issuance and issue price.
The Additional Notes and related guarantees will be sold in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act.
More on The PennZone
- Put Your Herd on Your Phone: Kiko Nation Makes Livestock Management Simple
- Future Intelligence Think Tank Surpasses 1,000 Members Exploring Human and Artificial Intelligence
- Gary Bernstein Expands Media Leadership Role With Senior Strategic Advisor Appointment To Blacksun Private Equity
- Headline: House of Nova Paints Every Face in Gold at New York Fashion Week
- Can Government Operate Better Through Innovation?
The Additional Notes and related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the Additional Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale would be unlawful. Any offers of the Additional Notes or related guarantees will be made only by means of a private offering memorandum.
About Arconic Corporation
Arconic Corporation (NYSE: ARNC), headquartered in Pittsburgh, Pennsylvania, is a leading provider of aluminum sheet, plate and extrusions, as well as innovative architectural products, that advance the ground transportation, aerospace, building and construction, industrial and packaging markets.
Forward-Looking Statements
This release contains statements that relate to future events and expectations and, as such, constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "guidance," "intends," "may," "outlook," "plans," "projects," "seeks," "sees," "should," "targets," "will," "would," or other words of similar meaning. All statements that reflect Arconic's expectations, assumptions, projections, beliefs or opinions about the future, other than statements of historical fact, are forward-looking statements, including, without limitation, statements regarding the intended conduct, timing and terms of the proposed Additional Notes offering, related financing plans and any future actions by Arconic in respect of the proposed Additional Notes. These statements reflect beliefs and assumptions that are based on Arconic's perception of historical trends, current conditions and expected future developments, as well as other factors Arconic Corporation believes are appropriate in the circumstances. Forward-looking statements are not guarantees of future performance. Although Arconic Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, these expectations may not be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks, uncertainties and changes in circumstances, many of which are beyond Arconic's control. Such risks and uncertainties include, but are not limited to our ability to successfully enter into the proposed transactions regarding the Additional Notes on favorable terms within the intended timing and the other risk factors summarized in Arconic Corporation's Form 10-K for the year ended December 31, 2020, and other reports filed with the U.S. Securities and Exchange Commission (SEC). Market projections are subject to the risks discussed in Arconic's reports and other risks in the market. The statements herein are made as of the date of this release, even if subsequently made available by Arconic on its website or otherwise. Arconic disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.
More on The PennZone
- Michael H. Kaplan Advocates for Seriously Injured Colorado Workers Who Need In-Home Care
- Her Song Lives On: Remembering Mrs. Darlene Davis Porter
- Infinity Infusion Solutions Named Finalist for D Magazine's D CEO 2026 Excellence in Healthcare Awards
- Pittsburgh Creators Launch Clever New Children's Book, "The Sock Sleuth!"
- Canadian Tint Expo 2027: Why Every Window Tinter Should Compete in Niagara Falls on April 3rd & 4th
0 Comments
Latest on The PennZone
- Scoop Social Co. Brings Its Signature Mobile Dessert Experience to Houston This October
- The Social Capital Revolution Comes to Phoenix!
- Lawsuit Alleges American Deli Food Caused Severe Illness, Acute Kidney Failure, And Eight-day Hospitalization
- FBI/DoW plot uncovered to hurt Trump/Vance through encouraged "widespread" cybersecurity breaches and racketeering theft of $80m in USDA payments
- Bettingbladet releases H1 2026 report on the Swedish online gambling market
- Garage door installation or repair in Minnesota? Which makes more sense for your family?
- SMACK Fight Week Takes Over Philadelphia
- Super Rooter Expands to 190 Plumbing, Sewer, and Drain Service Locations Across the United States
- European Patent for ALS Program Expands the Story: HOPE Deploys Robotic TMS & FDA Commercialization Path Advances: NRx Pharmaceuticals: NAS DAQ: NRXP
- VICTURY Sports Announces Formation of Youth Sports League Built on the Official, Patented, and Award-Winning Keepy Uppy® Ball
- Spearmint Publishes Full Design of Its Mining Pool Before Building It, Including Legal Drafts
- Congressman Chuck Edwards (NC-11) Presents ReadyCommunities Partnership 2026 National Service Award to Local Businessman / US Air Force Veteran
- Cress Creeks Farm Opens Fall Corn Maze and Baby Lamb Hayride Experience in Ellijay, Georgia
- Brewtay Coffee Introduces Specialty Instant Line Designed for High-Velocity Commuters and Travelers
- Allstream Energy Partners Nominated in Multiple Categories for Fast Company's Best Workplaces for Innovators
- Ten Ten Ten Awards Provisional Certification to Cara AI for Home-Based Health Assessments
- IDI Consulting Partners with the American Heart Association to Advance Heart Health Awareness
- Kerri Lawless Introduces New Home-Selling Option for Local Homeowners
- Bethany Nikitenko Appointed to Philadelphia Trial Lawyers Association Diversity Committee
- FDA-Cleared Zeta TMS Robotic System Moves Toward Deployment as FDA, DARPA and Commercial Catalysts Converge: NRx Pharmaceuticals (N A S D A Q: NRXP)