2013-03-08 18:54:03 -
Franklin, Tennessee - March 8, 2013 - Noranda Aluminum Holding Corporation
("Noranda" or the "Company") (NYSE: NOR) today announced that Noranda
Acquisition Corporation ("AcquisitionCo"), its wholly-owned subsidiary, has
completed its previously announced private offering of $175 million aggregate
principal amount of senior unsecured notes due 2019 (the "Notes"). Noranda also
announced today that AcquisitionCo entered into an incremental term loan
facility in the amount of $110 million under its existing term loan credit
agreement (the "New Loans"). The New Loans will also mature in 2019.
AcquisitionCo will use the net proceeds from the offering of the Notes and
New Loans to fund the redemption of all of its outstanding Senior Floating Rate
Notes due 2015 (the "Redemption"), representing an aggregate principal amount of
approximately $275.3 million as of the date hereof, with the balance to be used
for general corporate purposes. The Redemption, which will occur on April
7, 2013, was called today and will be made pursuant to the redemption terms and
notice provisions of the indenture governing the Senior Floating Rate Notes due
About the Company
Noranda Aluminum Holding Corporation is a leading North American integrated
producer of value-added primary aluminum products, as well as high quality
rolled aluminum coils. Noranda is a public company traded on the New York Stock
This press release contains "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
are statements about future, not past, events and involve certain important
risks and uncertainties, any of which could cause the Company's actual results
to differ materially from those expressed in forward-looking statements,
including, without limitation: the cyclical nature of the aluminum industry and
fluctuating commodity prices, which cause variability in earnings and cash
flows; a downturn in general economic conditions, including changes in interest
rates, as well as a downturn in the end-use markets for certain of the Company's
products; fluctuations in the relative cost of certain raw materials and energy
compared to the price of primary aluminum and aluminum rolled products; the
effects of competition in Noranda's business lines; Noranda's ability to retain
customers, a substantial number of which do not have long-term contractual
arrangements with the Company; the ability to fulfill the business's substantial
capital investment needs; labor relations (i.e. disruptions, strikes or work
stoppages) and labor costs; unexpected issues arising in connection with
Noranda's operations outside of the United States; the ability to retain key
management personnel; and Noranda's expectations with respect to its acquisition
activity, or difficulties encountered in connection with acquisitions,
dispositions or similar transactions.
Forward-looking statements contain words such as "believes," "expects,"
"should," "pursue," "seeks," "approximately,"
"anticipates," "intends," "plans,"
"estimates," or "anticipates" or similar expressions that relate to
strategy, plans or intentions. All statements Noranda makes relating to its
future plans or to the Company's expectations regarding future industry trends
are forward-looking statements. Noranda undertakes no obligation to publicly
update or revise any forward-looking statement as a result of new information,
future events or otherwise, except as otherwise required by law. Readers are
cautioned not to place undue reliance on forward-looking statements, which speak
only as of the date on which they are made and which reflect management's
current estimates, projections, expectations or beliefs.
For a discussion of additional risks and uncertainties that may affect the
future results of Noranda, please see the Company's filings with the Securities
and Exchange Commission, including its Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q.
Chief Financial Officer
John A. Parker
Vice President of Communication and Investor Relations
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originality of the information contained therein.
Source: Noranda Aluminum Holding Corporation via Thomson Reuters ONE