Alcoa Corp false 0001675149 0001675149 2024-11-29 2024-11-29

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 29, 2024

 

 

Alcoa Corporation

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   1-37816   81-1789115
(State or Other Jurisdiction
of Incorporation)		  

(Commission

File Number)

   (IRS Employer
Identification No.)

 

201 Isabella Street, Suite 500  
Pittsburgh, Pennsylvania   15212-5858
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (412) 315-2900

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange

on which registered

Common stock, par value $0.01 per share   AA   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 1.02

Termination of a Material Definitive Agreement.

As previously disclosed, in connection with Alcoa Corporation’s (“Alcoa”) acquisition of Alumina Limited, pursuant to which Alumina Limited became a wholly-owned subsidiary of Alcoa, Alcoa assumed $385 million of Alumina Limited’s outstanding indebtedness under its revolving credit facility (the “Facility”), governed by the Syndicated Revolving Cash Advance Facility Agreement, dated December 2, 2013, by and among Alumina Limited, as the borrower, Australia and New Zealand Banking Group Limited, as the agent, and the lenders party thereto (as amended and restated, the “Facility Agreement”). At the time of the acquisition, the Facility had tranches maturing in October 2025 ($100 million), January 2026 ($150 million), July 2026 ($150 million), and June 2027 ($100 million). In August 2024, Alcoa cancelled the undrawn lender commitments under the Facility maturing in July 2026 ($15 million) and June 2027 ($100 million).

On November 29, 2024, pursuant to the terms of the Facility Agreement, Alcoa voluntarily repaid all accrued and unpaid amounts outstanding under the Facility, totaling $385 million and, as of the same date, cancelled the outstanding lender commitments ($385 million). As a result of the repayment and cancellation of undrawn amounts, the Facility Agreement is effectively terminated. No early termination penalties or prepayment premiums were incurred by Alcoa in connection with the termination of the Facility.

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date: December 2, 2024   ALCOA CORPORATION
    By:  

/s/ Marissa P. Earnest

      Name: Marissa P. Earnest
Title: Senior Vice President, Chief Governance Counsel and Secretary
v3.24.3
Document and Entity Information
Nov. 29, 2024
Cover [Abstract]  
Entity Registrant Name Alcoa Corp
Amendment Flag false
Entity Central Index Key 0001675149
Document Type 8-K
Document Period End Date Nov. 29, 2024
Entity Incorporation State Country Code DE
Entity File Number 1-37816
Entity Tax Identification Number 81-1789115
Entity Address, Address Line One 201 Isabella Street
Entity Address, Address Line Two Suite 500
Entity Address, City or Town Pittsburgh
Entity Address, State or Province PA
Entity Address, Postal Zip Code 15212-5858
City Area Code (412)
Local Phone Number 315-2900
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Security 12b Title Common stock, par value $0.01 per share
Trading Symbol AA
Security Exchange Name NYSE
Entity Emerging Growth Company false
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