Trending...
- LiteracyNation's 3rd Annual Indie Author Book Fair
- Insurance for Braces Helps Make Treatment More Manageable for Pennsylvania Families
- International Rights Groups Raise Alarm Over Freedom of Religion and Expression in South Korea
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
- Vboost Celebrates 14 years of Automotive Viral Marketing
- M.C. Weeks, Inc. Marks 80 Years of Family Ownership and Brand Refresh
- Ignazio Arces Wins Stevie® Award for Maverick of the Year at the 2026 International Business Awards
- SMACK Fighting Championships Debuts a New Sports Concept in Philadelphia
- Tickeron Highlights AI Trading Agent Performance Across Multiple Market Sectors
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
- Stop Bleeding Cash on Mediocre Talent. Build a Powerhouse Remote Team Instead
- Crownlight Strategies® Announces Federal Trademark Registration
- New Book Calls 'Sense of Belonging' the Missing Link in Student Success
- Igbozue Connecticut USA Celebrates 2026 Summer Family Picnic
- KT Medical Staffing Addresses the Questions Families Forget to Ask Before Bringing Private Nursing Care Home
0 Comments
Latest on The PennZone
- Lineus Medical Elevates Leadership to Accelerate Growth After Breakthrough Clinical Results
- Gateway Center Arena Announces Duane Curry as General Manger
- Mumbai Central Farmers Market Launches Community Collective for More Value and Connection
- XRPPower Expands Platform Security With Enhanced Brand Protection and Official Verification Standards
- Cuvo Health, the #1 White Label Telehealth Platform, Surpasses 300 Exclusive Providers Serving All 50 States
- Birkdale Investments LLC Acquires Assets of Mumbai Central Farmers Market, Unveils Expanded Vision
- RAS AP Consulting Expands Managed AP Governance™ Ecosystem, Launches Trademark Process, and Secures IFOL Speaker Invitation
- UK Financial Ltd Makes History: Chainlink CRE Circulating Supply Verification Goes Live Across Its Complete Ecosystem Of Nine Exchange-Traded Tokens
- International Rights Groups Raise Alarm Over Freedom of Religion and Expression in South Korea
- The City's Most Elegant Open-Air Dinner Party Returns September 12, 2026
- LiteracyNation's 3rd Annual Indie Author Book Fair
- FDA Clears Major Regulatory Hurdle as Preservative-Free Ketamine Program Moves Within Reach of Commercialization: NRx Pharmaceuticals: (NAS DAQ: NRXP)
- Autonomous Robotics Platform Expansion as Public Market Debut is Very Close: MBody AI Corp. (N A S D A Q: MBAI)
- Loud! OOH calls for prize draw advertising standards as £1.3bn category moves outdoors
- Insurance for Braces Helps Make Treatment More Manageable for Pennsylvania Families
- Black Ribbon Productions Launches With Fearless 2026 Horror Slate
- Actor Dominic Pace Returns to Television and Film
- Opteamix welcomes Girish Ramachandra to its leadership team as Senior Vice President of Client Services
- Silicon Box Ships 500M Units at High Yield, Expands Production Capacity for Panel-Level Packaging
- Bethany Nikitenko Appointed to Philadelphia Trial Lawyers Association Board of Directors