Trending...
- Bethany Nikitenko Appointed to Philadelphia Trial Lawyers Association Board of Directors
- Porter's Day Care Opens Doors to Brighter Futures
- Why Baton Rouge's Humid Climate Can Contribute to Carpenter Ant Damage — J&J Exterminating Explains How to Protect Your Home
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
- 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)
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
- 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
0 Comments
Latest on The PennZone
- RevOtter Names Levi Bilbrey CEO, as Company Expands Fractional CMO, RevOps and Web Design Services
- The J Wes Project Announces "The Mystery of Love" Documentary
- Walker's Realty and North Jersey Properties Introduce Extraordinary Luxury Estate for Rent in West Orange, New Jersey
- Extreme Heat Strains Home Appliances: Appliance EMT Offers "Summer Rescue" Relief
- Independent West Texas Metal Multi-Instrumentalist & Producer. "MAD CHAD™" Russell Surpasses 1.9 Million Project Interactions Via DFGS Productions
- No Download Needed: Goosechase Adds Browser Play to Every Experience
- HER Patio Productions celebrates one-year Anniversary of "Say Grace"
- Working Musicians Academy Partners with Black Dog Music Partners to Give Musicians Independent, Income-Producing Careers
- Omnitronics launches Ecosystem Health Dashboard to enable proactive monitoring across dispatch environments
- New Research Identifies "The Great Junk Transfer": 49% of Americans Would Rather Inherit Nothing Than Sort Through a Relative's Belongings
- Minus K Technology launches it Educational Giveaway for Universities and Colleges in the USA
- UK Financial Ltd Verifies Maya Preferred PRA Circulating Supply, Proving Its Eight-Year Promise of Under 1M Tokens After Chainlink Labs Agreement
- Anamorphic 3D Only Works on Fixed Screens. Loud! OOH Put It on a Moving Ad Van for Flood Re
- From DJ Booths to Disney: Orlando Author Ryan Tiffin Launches "Chasing Magic"
- Nola Blue Records Announces New Album from Sherman Holmes
- FDA Food Recall Notices After Outbreak Linked to 98 Hospitalizations: Practical Tips for Safer Grocery Shopping
- The 'Tax Squeeze': Betsson's Record Quarter Previews the Economics of Finland's 2027 Casino Market
- Colonial Nissan Helps Multiple Generations of the Community Find Their Next Vehicle
- ImagineX Acquires Payteros to Strengthen Digital Transformation Capabilities
- From Pizza to Playlists: Marty The Pizza Guy Delivers Three Delicious New Songs