TozziniFreire and others act on Novelis’ senior notes offering
TozziniFreire assisted J.P. Morgan Securities, acting on behalf of itself and as a representative of the initial purchasers on the transiction in which Novelis Corporation, the world leader in aluminum rolling and recycling, which was advised by Levy & Salomão, completed the offering of USD 750 million aggregate principal amount of 6.875% senior notes due 2030, which represents an increase of $250 million from the offering size previously announced.
The notes are guaranteed, jointly and severally, on a senior unsecured basis, by Novelis, and by certain Novelis subsidiaries.
The Notes and the related guarantees have not been, and will not be, registered under the Securities Act, or any state securities laws, and have not been, and will not be, offered or sold within the United States or to U.S. persons, except to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain persons in offshore transactions in reliance on Regulation S under the Securities Act.
Novelis intends to use the net proceeds from the offering to repay $738 million of outstanding borrowings under its revolving credit facility and to use any remaining net proceeds to fund cash on its balance sheet for general corporate purposes.
TozziniFreire Advogados advised J.P. Morgan Securities LLC, as representative of the initial purchasers and relied on partners Alexei Bonamin (pictured left), Marcus Fonseca (pictured center), associates Leonardo Braghetto, Júlia Viana
Skadden represented the same partie and relied on Nicole Stankus, Janet Esnes, Emily Furfaro, Martha Ellerson.
Levy & Salomão Advogados advised Novelis do Brasil and relied on partner Luiz Roberto de Assis (pictured right), associate Fabio Kupfermann Rodarte.
Torys also advised the same partie.
