JW Aluminum Announces Proposed Offering of $285M of Senior Secured Notes
Tuesday, May 15th, 2018
JW Aluminum Continuous Cast Company (collectively with its subsidiaries, the “Company”), a wholly-owned subsidiary of JW Aluminum Holding Corp., announced that it is proposing to issue $285 million aggregate principal amount of Senior Secured Notes due 2026 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Company intends to offer the Notes to qualified institutional buyers in accordance with Rule 144A or outside the United States in accordance with Regulation S under the Securities Act.
The net proceeds from the offering will be used to repay the Company’s $151.0 million secured term loan and to modernize and refresh the Company’s capacity at its Mount Holly operation, which will include the installation of proven, state-of-the-art equipment expected to result in substantial operating cost savings and additional production capacity. Assuming successful completion of the offering, the Company will have no outstanding debt maturing prior to 2023.