Alcoa Plans Biggest Debt Offering in Two Years Today
This article is for subscribers only.
Alcoa Inc., the largest U.S. aluminum producer, plan to sell $1 billion of notes as soon as today in its biggest offering in two years, according to a person familiar with the transaction.
The 10-year notes may yield about 318 basis points more than similar-maturity Treasuries, said the person, who declined to be identified because terms aren’t set. Proceeds will be used with cash on hand to repay outstanding debt, the New York-based company said today in a regulatory filing that didn’t include the size or timing of the sale.