Alcoa to Ease Manufacturing Company’s Debt Burden in Split

  • Arconic will hold up to 19.9% stake in the new Alcoa
  • Upstream company Alcoa Corp. will borrow about $1 billion

Alcoa Inc. said the aluminum smelting business it’s spinning off will take on $1 billion in new debt to help reduce the burden on the remaining company as it battles to maintain credit ratings.

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