Alumina Pty Limited’s $1 Billion High‑Yield Senior Notes Offering and Alcoa Nederland Holding B.V.’s Concurrent $1 Billion Cash Tender Offers

Cravath represented the initial purchasers in connection with the $1 billion 144A/Reg S. high‑yield senior notes offering of Alumina Pty Ltd, a wholly owned subsidiary of Alcoa Corporation, a global industry leader in the production of bauxite, alumina and aluminum products. Cravath also represented the dealer managers in connection with the concurrent cash tender offers for notes of Alcoa Nederland Holding B.V., a wholly owned subsidiary of Alcoa Corporation, with an aggregate principal amount of up to $1 billion. The transactions closed on March 17, 2025.

The Cravath team included partners Ryan J. Patrone and D. Scott Bennett and associates Courtney T. Seager, Kelsey L. Laabs and Weston James Barker on capital markets matters; partner Arvind Ravichandran and associates Josh Banafsheha and Ruth Goldstein Schapiro on tax matters; senior attorney Annmarie M. Terraciano on environmental matters; and associate S. Celine Li on executive compensation and benefits matters. Catherine M. Crevecoeur also worked on capital markets matters.