Metals and Mining
Company Overview of Novelis Inc.
Novelis Inc. produces and sells aluminum rolled products. It operates through four segments: North America, Europe, Asia, and South America. The company produces aluminum sheet and light gauge products primarily for use in the beverage and food can, and foil products, as well as in automotive, transportation, electronics, architectural, and industrial product markets. It is also involved in the primary aluminum smelting and hydroelectric power generation activities in Brazil. The company was founded in 2004 and is headquartered in Atlanta, Georgia. Novelis Inc. is a subsidiary of AV Metals Inc.
3560 Lenox Road
Atlanta, GA 30326
Founded in 2004
Key Executives for Novelis Inc.
Interim Chief Executive Officer, Interim President, Chief Financial Officer and Senior Vice President
Senior Vice President and President of Novelis Europe
Senior Vice President and President of Novelis North America
Senior Vice President and President of Novelis South America
Senior Vice President and President of Novelis Asia
Compensation as of Fiscal Year 2015.
Novelis Inc. Key Developments
Novelis Inc. Enters into a Refinancing Amendment Agreement to its Term Loan Facility
Jun 3 15
On June 2, 2015, Novelis Inc. entered into a Refinancing Amendment Agreement to its Term Loan Facility dated as of December 17, 2010, as amended, among the company, as borrower, AV Metals Inc., the other guarantors party thereto, the lenders party thereto, and Bank of America, N.A., as administrative agent and collateral agent. The Amendment increases the principal amount of the Term Loan Facility from $1.73 billion to $1.8 billion and extends the final maturity of the Term Loan Facility from December 17, 2017 to June 2, 2022; provided that, in the event that any series of Company's senior unsecured notes remain outstanding 92 days prior to its maturity date, then the Term Loan Facility will mature on such date, subject to limited exceptions. The loans under the Term Loan Facility accrue interest at the higher of LIBOR and 0.75% plus a 3.25% spread. The Amendment eliminates the senior secured net leverage covenant that requires the company to maintain a minimum senior secured net leverage ratio. In addition, certain negative covenants were amended to increase the company's operational flexibility, including increasing flexibility to enter into working capital financings and incur other debt.
Novelis Inc. Presents at Barclays High Yield Bond and Syndicated Loan Conference, Jun-11-2015 10:50 AM
May 22 15
Novelis Inc. Presents at Barclays High Yield Bond and Syndicated Loan Conference, Jun-11-2015 10:50 AM. Venue: The Broadmoor Hotel, 1 Lake Avenue, Colorado Springs, Colorado, United States. Speakers: Randal P. Miller, Vice President and Treasurer.
Novelis Appoints H.R. Shashikant as Senior Vice President and Chief Human Resources Officer Succeeding Leslie W. Joyce
May 13 15
Novelis announced the appointment of H.R. Shashikant to the position of Senior Vice President and Chief Human Resources Officer, effective immediately. Shashikant was previously Group Executive President, Group Human Resources, for the Aditya Birla Group (ABG), the Mumbai-based conglomerate of which Novelis is a part. In his new role, Shashikant will be based at Novelis' global headquarters in Atlanta. In his 29-year career, Shashikant has held progressively senior human resources leadership roles in a number of global organizations. Shashikant succeeds Leslie W. Joyce, Ph.D., who has left Novelis to pursue other career opportunities.
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