by Stephen Carter
Mar 23, 2021 6:23 AM ET
Novelis Sheet Ingot GmbH (HNDLIN) EUR500m 144A/Reg S sr Green notes due 2029 (8y). NC3 (MWC B+50bp) (50%,25%,par). Equity claw: 3y 40%. B1/BB- (stable/stable). Via JPM (B&D)/DB (logistics) jt physical books/Barc/BNP/BofA/Citi/CA/HSBC/ING/StanChart jt books, ANZ, Axis Bank, DBS, First Abu Dhabi Bank, MUFG, SMBC Nikko, SocGen, WFS as co-managers. No reg rights. List ISE. NY law.
IPT high 3s to 4%.
Virtual roadshow 03/22-24 (investor call at 1:15pm GMT/9:15am NYT 03/22). UOP: along with cash on hand, to repay a portion ($59m) of the $1.728bn 2017 term loan, with an amount equal to net proceeds allocated to finance and/or refinance new and/or existing eligible green projects. Biz: it is a wholly-owned direct subsidiary of Novelis Inc, the leading producer of flat-rolled aluminum products and the worlds largest recycler of aluminum. HQ: Atlanta, GA. Novelis In is a sub of Hindalco Industries.