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Noranda to launch $400 million to $500 million bonds April 30 week
By Paul A. Harris
St. Louis, April 26 - Noranda Aluminum Holding Corp. is expected to launch a $400 million to $500 million offering of eight-year senior unsecured floating-rate toggle notes (B3) during the April 30 week, according to an informed source.
Merrill Lynch & Co. will lead the deal.
Proceeds, together with an equity contribution from Apollo Management LP, will be used to help finance the purchase of Noranda by Apollo from Xstrata AG.
Noranda is a Franklin, Tenn.-based aluminum producer.
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