Novelis Aims to Raise $750 Mn through 5-Year Bonds

13 Jan 2025 CW Team

Novelis Inc, a subsidiary of Hindalco Industries based in the United States, announced plans on Thursday to raise $750 million via bond issuance. The company aims to utilise the proceeds from this offering to repay $738 million of existing debt, with any remaining funds allocated to strengthening its balance sheet. The bond offering consists of $750 million in senior notes at an interest rate of 6.875 per cent, maturing in January 2030. This marks a $250 million increase from Novelis’ earlier announcement. As a leading provider of sustainable aluminium solutions, Novelis had reported a decline in net income, down 18 per cent to $128 million for the September quarter of the 2024-25 financial year, compared to $157 million in the same period the previous year.

Despite the fall in net income, Novelis’ second-quarter net sales saw a 4.5 per cent increase, reaching $4.295 billion, driven by higher aluminium prices and a 1 per cent rise in flat rolled product shipments to 945 kilotonnes.

Steve Fisher, President and CEO of Novelis, noted the company achieved record beverage packaging shipments during the quarter, helped by its global reach and overcoming the impact of a flooding-related disruption at its Sierre facility. Meanwhile, Devinder Ahuja, Executive VP and CFO, stressed the importance of prudent balance sheet management in the face of evolving market conditions.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..