Novelis Offers Euro-Denominated Senior Green Notes

SEATTLE (Scrap Monster): Atlanta-headquartered Novelis Inc. announced plans to offer approximately $595 million in aggregate principal amount of euro-denominated senior green notes. Novelis Sheet Ingot GmbH will offer the green notes in a private offering, which will be exempt from the registration requirements of the Securities Act of 1933. The green notes will be issued in accordance with the Green Bond Principles.

The net proceeds of the offering will be utilized towards repayment of a portion of the outstanding $1.8 billion of term loans under the Term Loan Facility. It will also be utilized to pay certain fees and expenses in connection with the foregoing and the offering of the green notes. Novelis plans to allocate an amount equal to the net proceeds to finance existing and new eligible green projects.

The green notes have not been and will not be registered under the Securities Act of 1933, as amended. The green notes have not and will not be offered or sold within the United States or to U.S. persons, except to qualified institutional buyers and to certain persons in offshore transactions. Any offers of the green notes will be made only by means of a private offering memorandum.

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