Historical Stock Chart
6 Months : From Nov 2018 to May 2019
Alcoa Corporation (NYSE: AA), a global leader in bauxite, alumina, and
aluminum products, today announced that it entered into an amended and
restated $1.5 billion revolving credit agreement on November 21, 2018.
and restated revolving credit agreement, among other things:
Extends the maturity date of the credit facility from November 14,
2022 to November 21, 2023;
Permits release of the collateral should the Company achieve an
investment grade rating with a stable outlook or better;
Decreases the applicable interest rate margin on Libor and base rate
loans, and subjects them to further decreases for so long as the
Company has an investment grade rating; and
Provides additional flexibility for the Company to make restricted
payments, to make investments, and to incur indebtedness.
“Our ability to successfully amend our revolving credit agreement
reflects Alcoa’s improving financial profile,” said William Oplinger,
Executive Vice President and Chief Financial Officer. “We look forward
to continuing to strengthen the Company to gain even greater flexibility
in the future.”
JPMorgan Chase Bank serves as the administrative agent.
Dissemination of Company Information
Alcoa Corporation intends to make future announcements regarding company
developments and financial performance through its website at www.alcoa.com.
About Alcoa Corporation
Alcoa is a global industry leader in bauxite, alumina, and aluminum
products, built on a foundation of strong values and operating
excellence dating back 130 years to the world-changing discovery that
made aluminum an affordable and vital part of modern life. Since
developing the aluminum industry, and throughout our history, our
talented Alcoans have followed on with breakthrough innovations and best
practices that have led to efficiency, safety, sustainability, and
stronger communities wherever we operate.
This press 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,”
“intends,” “may,” “outlook,” “plans,” “projects,” “seeks,” “sees,”
“should,” “targets,” “will,” “would,” or other words of similar meaning.
All statements that reflect the Company’s expectations, assumptions or
projections about the future, other than statements of historical fact,
are forward-looking statements. Forward-looking statements are not
guarantees of future performance and are subject to known and unknown
risks, uncertainties, and changes in circumstances that are difficult to
predict. Although the Company believes that the expectations reflected
in any forward-looking statements are based on reasonable assumptions,
it can give no assurance that these expectations will 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
and uncertainties. Additional information concerning factors that could
cause actual results to differ materially from those projected in the
forward-looking statements is contained in the Company’s filings with
the U.S. Securities and Exchange Commission. The Company disclaims any
obligation to update publicly any forward-looking statements, whether in
response to new information, future events or otherwise, except as
required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181126005661/en/
Investor ContactJames Dwyer412-992-5450James.Dwyer@alcoa.com
Media ContactJim Beck412-315-2909Jim.Beck@alcoa.com