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Stockreport

Alcoa Corporation Announces Pension Funding After Closing of Debt Offering

ALCOA (AA)  More Company Research Source: Business Wire
Last alcoa earnings: 10/17 04:10 pm Check Earnings Report
US:NYSE Investor Relations: investors.alcoa.com
PDF PITTSBURGH--(BUSINESS WIRE)-- Alcoa Corporation (NYSE:AA) today made discretionary contributions to its U.S. pension plans of $500 million, the gross proceeds of a recently closed debt offering. On May 17, 2018, Alcoa Nederland Holding B.V., a wholly-owned subsidiary of Alcoa, closed its offering of $500 million aggregate principal amount of 6.125 percent senior notes due 2028. The notes were 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 to certain non-United States persons in offshore transactions in accordance with Regulation S under the Securities Act. “This discretionary funding is in complete alignment with our strategic priority to strengthen the balance sheet, as it reduces near-term pension funding risk using a fixed-rate, 10-year maturity instrument,” said Executive Vice [Read more]

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