April 14, 2021
Business News

Arconic Announces Closing of $300 Million of Additional Notes Offering

PITTSBURGH–()–Arconic Corp. (NYSE: ARNC) (“Arconic” or “the Company”) announced today that it closed its 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 Additional Notes were sold at 106.25% of par and the Company expects net proceeds of approximately $314 million.

Chief Executive Officer Tim Myers said, “We remain committed to reducing our legacy pension obligations and these add-on notes position us to fund a significant pension annuitization in the first half of 2021 while preserving our liquidity profile. The intended annuitization will effectively replace certain pension…

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