Alcoa’s $1.5 Billion Stock and Debt Offerings

On March 24, 2009, Alcoa Inc. announced the completion of its public offerings of registered common stock and convertible notes. Alcoa issued 172.5 million shares of its common stock, which were listed on the New York Stock Exchange, and $575 million of its 5.25% convertible notes due 2014, resulting in gross proceeds of approximately $1.48 billion. Cravath represented the underwriters, led by Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. Incorporated, in connection with this transaction. The lawyers involved include partner Andrew J. Pitts, senior attorney G. Douglas Johnson and associates Denise Shiu, Merritt S. Johnson, Jacques J. Graas and Jason S. Kollander.