Hindalco Industries Limited — Updates, 09-01-2025: Press Release

Novelis Inc., a wholly owned subsidiary of Hindalco Industries, has priced an offering of $750 million in senior notes due January 2030, increasing its size by $250 million. These notes carry an interest rate of 6.875% per annum and will close on January 13, 2025, pending customary conditions. The net proceeds will primarily be used to repay $738 million of outstanding borrowings under its revolving credit facility, with any surplus funding general corporate purposes. This offering reflects Novelis' strategy to optimize its capital structure and enhance financial flexibility, potentially strengthening its market position within the aluminum solutions sector. Investors should watch this development closely, as it signals Novelis' commitment to maintaining a strong balance sheet while pursuing growth opportunities.