Arconic $700 million senior secured notes offering
The high-yield notes are part of the financing for an Apollo-led investor group’s acquisition of Arconic
Davis Polk advised the representative of the several initial purchasers in connection with the offering by Arsenal AIC Parent LLC of $700 million aggregate principal amount of its 8.000% senior secured notes due 2030. Upon satisfaction of certain escrow conditions, the proceeds of the notes will be used to fund the acquisition of Arconic Corporation and to pay related fees, costs, premiums and expenses. These notes are part of the debt financing provided to an investor group led by Apollo Global Management, Inc. in connection with its acquisition of Arconic Corporation.
Apollo Global Management, Inc. is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Bethesda, London, Frankfurt, Madrid, Luxembourg, Mumbai, New Delhi, Singapore, Hong Kong, Shanghai, Tokyo and Sydney.
Arconic Corporation, 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 end markets.
The Davis Polk capital markets team included partners Michael Kaplan and Hillary A. Coleman and associate Chad Howard. Partner Christopher Nairn-Kim, counsel Ruben N. Henriquez and associates Esam Ibrahim, Daiana Kostova and Anmol Sheth provided finance advice. Partner Kara L. Mungovan and associate Benjamin Helfgott provided tax advice. Members of the Davis Polk team are based in the New York office.