#USA #Atlanta #Senior Notes #Cash Tender Offer #Novelis

Novelis Announces Cash Tender Offer for Senior Notes

On August 11, 2025, Novelis Inc., a leader in innovative aluminum products, disclosed plans to initiate a cash tender offer aimed at repurchasing all of its 3.250% Senior Notes that are set to mature in November 2026. This move is significant as it exemplifies the company’s ongoing strategy to optimize its debt structure while enhancing its financial flexibility.

Overview of the Offer

The tender offer is specifically designed to acquire up to $750 million in principal amount of these senior notes. Holders of the notes will receive a cash payment of $997.50 for every $1,000 principal amount of notes that they validly tender before the expiration deadline. It is essential for participants to understand that this consideration does not include any accrued and unpaid interest which will be calculated separately.

The tender offer will conclude at 5:00 p.m. (New York City time) on August 15, 2025, unless there are any extensions or premature terminations enacted by Novelis. To qualify for the cash payment, holders must either tender their notes by the stipulated deadline or submit a notice of guaranteed delivery.

Important Deadlines

Several key deadlines have been established:

• - Expiration Time: August 15, 2025, by 5:00 p.m.
• - Withdrawal Deadline: Same as expiration time.
• - Guaranteed Delivery Date: Expected to be August 19, 2025, which allows holders who follow the appropriate procedures to still participate.
• - Settlement Date: Anticipated to be August 18, 2025, for accepted tenders.
• - Guaranteed Delivery Settlement Date: Expected on August 20, 2025.

Conditions and Considerations

For the tender offer to proceed, specific conditions must be met. A critical requirement is that Novelis must secure at least $750 million in gross proceeds from a new offering of senior notes, which must be conducted under terms acceptable to the company. Further stipulations revolve around general conditions outlined in the offer documents.

If the conditions are not fulfilled, Novelis has various options available, including terminating the tender offer or waiving certain conditions to proceed with purchasing the validly tendered notes. Moreover, any notes that are not acquired through this offer will be redeemed in accordance with their governing indentures.

This tender offer reflects Novelis's broader objective to refine its capital management strategy and maintain a balance sheet that supports future growth. Holders of the senior notes are encouraged to carefully review the Offer to Purchase and related documents once available, as these will contain comprehensive details regarding the offer.

About Novelis

Novelis Inc. is renowned for its commitment to sustainability and is recognized as a global leader in innovative aluminum solutions. The company, a subsidiary of Hindalco Industries Limited, aims to build a fully circular economy by partnering with stakeholders across various industries, including automotive, aerospace, and beverage packaging.

In the last fiscal year, Novelis generated $17.1 billion in net sales, showcasing its robust market presence. For further information, stakeholders are directed to visit novelis.com.

Conclusion

As Novelis moves forward with this cash tender offer, it stands as a proactive measure to enhance financial stability and efficiency. Stakeholders are reminded to stay alert for further announcements and to take the necessary actions by the upcoming deadlines. This financial maneuver by Novelis not only underscores its corporate responsibility but also aims to solidify its position in the market as a forward-thinking leader in the aluminum industry.