Novelis Secures $750 Million in Bond Sale at 6.88% Interest

10 Jan 2025 CW Team

The US headquartered aluminium maker expects to close the bond placement on January 13. The bonds will be guaranteed by Novelis and certain subsidiaries of the company, the Aditya Birla owned company said in a stock market notice.

The private placement to non-US investors means that the bonds are exempt from any US Securities act, the company said.

Atlanta based Novelis supplies aluminium products to customers in the aerospace, automotive, beverage packaging and specialties industries throughout North America, Europe, Asia and South America. It had net sales of $16.2 billion in fiscal year 2024.

Earlier, Novelis said it expects its third quarter Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) on an adjusted basis to be between $360 million to $370 million, lower than the $454 million it had reported during the same quarter last year. The company is expected to report EBITDA per tonne between $400 to $407, which is also lower than the $499 figure it reported last year. Hindalco’s wholly-owned subsidiary had posted an 18% year-on-year drop in its net income in the second quarter ended September 2025 to $128 million. after the company’s wholly-owned subsidiary Novelis posted an 18% YoY drop in its net income attributable to the shareholders. Novelis also withdrew its short-term earnings before interest tax depreciation and amortisation (EBITDA) per tonne guidance of $525 due to the suspension of guidance to tight scrap spreads due to accelerated scrap purchases by China after Asia’s largest economy accelerated its aluminium scrap purchase, which led to a sharp increase in prices after liberating its policies.

Novelis' EBITDA per tonne stood at $498 in the quarter ended September 2024, down from $519 during the same quarter last year and $525 in the June quarter.

Novelis Inc, the overseas arm of the Aditya Birla Group's Hindalco Industries has raised $750 million (about Rs 64.50 billion) by selling five-year bonds through a private placement outside of the US at 6.88%. Novelis intends to use the net proceeds from the offering to repay $738 million (about Rs 63.46 billion) 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, the company said. The US headquartered aluminium maker expects to close the bond placement on January 13. The bonds will be guaranteed by Novelis and certain subsidiaries of the company, the Aditya Birla owned company said in a stock market notice. The private placement to non-US investors means that the bonds are exempt from any US Securities act, the company said. Atlanta based Novelis supplies aluminium products to customers in the aerospace, automotive, beverage packaging and specialties industries throughout North America, Europe, Asia and South America. It had net sales of $16.2 billion in fiscal year 2024. Earlier, Novelis said it expects its third quarter Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) on an adjusted basis to be between $360 million to $370 million, lower than the $454 million it had reported during the same quarter last year. The company is expected to report EBITDA per tonne between $400 to $407, which is also lower than the $499 figure it reported last year. Hindalco’s wholly-owned subsidiary had posted an 18% year-on-year drop in its net income in the second quarter ended September 2025 to $128 million. after the company’s wholly-owned subsidiary Novelis posted an 18% YoY drop in its net income attributable to the shareholders. Novelis also withdrew its short-term earnings before interest tax depreciation and amortisation (EBITDA) per tonne guidance of $525 due to the suspension of guidance to tight scrap spreads due to accelerated scrap purchases by China after Asia’s largest economy accelerated its aluminium scrap purchase, which led to a sharp increase in prices after liberating its policies. Novelis' EBITDA per tonne stood at $498 in the quarter ended September 2024, down from $519 during the same quarter last year and $525 in the June quarter.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..