September 29, 2016 11:30 PM ET

Metals and Mining

Company Overview of Novelis Inc.

Company Overview

Novelis Inc. produces and sells aluminum rolled products. The company operates through four segments: North America, Europe, Asia, and South America. It produces aluminum sheet and light gauge products primarily for use in the beverage and food cans, electronics, containers and packaging, automotive and other transportation, architectural, and other industrial applications. The company was founded in 2004 and is headquartered in Atlanta, Georgia. Novelis Inc. is a subsidiary of AV Metals Inc.

3560 Lenox Road

Suite 2000

Atlanta, GA 30326

United States

Founded in 2004

11,970 Employees

Phone:

404-760-4000

Key Executives for Novelis Inc.

Chief Executive Officer and President
Age: 45
Chief Financial Officer and Senior Vice President
Senior Vice President and President of Novelis North America
Age: 59
Senior Vice President and President of Novelis South America
Age: 58
Senior Vice President and President of Novelis Asia
Age: 50
Compensation as of Fiscal Year 2016.

Novelis Inc. Key Developments

Novelis Inc. Announces Closing of Offering of $1.5 Billion of Senior Notes Due 2026

Novelis Inc. announced the completion of the previously announced offering of $1.5 billion aggregate principal amount of 5.875% senior notes due 2026 by Novelis Corporation, an indirect wholly-owned subsidiary of Novelis. The Notes are guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain of Novelis' subsidiaries. The net proceeds of the offering will be used to retire Novelis' outstanding 8.75% Senior Notes due 2020. The Notes were offered in a private offering that was exempt from the registration requirements of the Securities Act of 1933, as amended. The Notes were offered within the United States to qualified institutional buyers in accordance with Rule 144A and outside the United States in accordance with Regulation S under the Securities Act.

Novelis Inc. Commences Cash Tender Offer to Purchase Any and All of Outstanding 8.75% Senior Notes Due 2020

Novelis Inc. announced that it has commenced a cash tender offer to purchase any and all of its outstanding 8.75% senior notes due 2020. The tender offer will expire at 5:00 p.m., New York City time, on September 13, 2016, unless extended or earlier terminated by the Company (such time and date, as the same may be extended or earlier terminated, the Expiration Time"). In order to be eligible to receive the Tender Offer Consideration for tendered Notes, holders must validly tender and not validly withdraw their Notes, or deliver a properly completed and duly executed Notice of Guaranteed Delivery for their Notes, before the Expiration Time. The tender offer is subject to the satisfaction or waiver of certain conditions as described in the Offer to Purchase, including (1) the receipt of at least $1.4 billion in gross proceeds from one or more offerings of senior notes on terms reasonably acceptable to the Company, and (2) certain general conditions, in each case as described in more detail in the Offer to Purchase. If any of the conditions are not satisfied, the company may terminate the tender offer and return tendered Notes, may waive unsatisfied conditions and accept for payment and purchase all validly tendered Notes, may extend the tender offer or may otherwise amend the tender offer. The company intends to redeem any Notes that are not validly tendered and accepted for purchase pursuant to the tender offer. The Tender Offer Consideration" for each $1,000 principal amount of Notes validly tendered and not validly withdrawn and accepted for purchase pursuant to the tender offer will be an amount equal to $1,048.30, payable in cash to holders that validly tender their Notes or deliver a properly completed and duly executed Notice of Guaranteed Delivery for their Notes prior to the Expiration Time, plus accrued and unpaid interest.

Novelis Inc. Announces Preliminary Results of Tender Offer for 8.375% Senior Notes Due 2017

Novelis Inc. announced the results of its previously announced cash tender offer for any and all of its 8.375% Senior Notes due 2017, upon the terms and conditions included in the Offer to Purchase, dated August 15, 2016, as amended. As of the Early Tender Deadline, which was 5:00 p.m., New York City time, on August 26, 2016, the aggregate principal amount of the Notes that have been validly tendered and not validly withdrawn was $635,945,000, representing 57.81% of the $1,100,000,000 aggregate outstanding principal amount of the Notes. Subject to the terms and conditions of the tender offer being satisfied or waived, holders who validly tendered and did not withdraw Notes prior to the Early Tender Deadline will, if their Notes are accepted for purchase, receive the "Total Consideration" equal to $1,021.25 per $1,000 principal amount of Notes. In addition to the Total Consideration, holders will receive accrued and unpaid interest on the Notes from the most recent payment of semi-annual interest preceding the Early Settlement Date to, but not including, the Early Settlement Date. The Early Settlement Date is expected to be August 29, 2016. The Withdrawal Deadline has passed. Accordingly, any validly tendered notes may no longer be withdrawn or revoked. The tender offer will expire at 12:01 a.m., New York City time, on September 13, 2016, unless extended or earlier terminated by the Company (such time and date, as the same may be extended or earlier terminated, the "Expiration Time"). Holders who validly tender their Notes after the Early Tender Deadline but prior to the Expiration Time will be eligible to receive the tender offer consideration equal to $991.25 per $1,000 principal amount of Notes. Holders whose Notes are accepted for purchase will also receive accrued and unpaid interest on the Notes from the most recent payment of semi-annual interest preceding the Final Settlement Date to, but not including, the Final Settlement Date. The Company currently expects the Final Settlement Date to be on or about September 13, 2016. The Company currently intends to redeem, at a later date, any Notes that remain outstanding following the Final Settlement Date in accordance with the terms of the indenture governing the Notes. There can be no assurance, however, if or when the Company would effect such redemption.

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