PITTSBURGH--(BUSINESS WIRE)--Arconic Corporation (NYSE: ARNC)  announced today a proposed offering of an additional $300 million aggregate principal amount of the Company’s 6.125% Senior Secured Second-Lien Notes due 2028.

The timing and pricing of the Additional Notes are subject to market conditions and other factors. The Company intends to use the net proceeds of the issuance of the Additional Notes for general corporate purposes, including to fund the annuitization of certain pension plan obligations. The Additional Notes will be fully and unconditionally guaranteed, jointly and severally, by each of the Company’s wholly-owned domestic subsidiaries, on a senior secured second-priority basis. Each of the Additional Notes and the related guarantees will be secured on a second-priority basis by liens on certain assets of the Company. The Additional Notes will be issued under the indenture governing the Company’s existing 6.125% Senior Secured Second-Lien Notes due 2028 (the “Existing Notes”). The Additional Notes will be treated as a single series with the Existing Notes and will have the same terms as the Existing Notes, other than with respect to the date of issuance and issue price.

The Additional Notes and related guarantees will be sold in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act.

The Additional Notes and related guarantees have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Additional Notes or any other security and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any persons to whom, such an offer, solicitation or sale would be unlawful. Any offers of the Additional Notes or related guarantees will be made only by means of a private offering memorandum.

About Arconic Corporation

Arconic Corporation (NYSE: ARNC), headquartered in Pittsburgh, Pennsylvania, is a leading provider of aluminum sheet, plate and extrusions, as well as innovative architectural products, that advance the ground transportation, aerospace, building and construction, industrial and packaging markets.