Summary by Moomoo AI
Alcoa Corporation has terminated a $385 million revolving credit facility originally belonging to Alumina Limited, which Alcoa assumed following its acquisition of the company. The facility, governed by a Syndicated Revolving Cash Advance Facility Agreement dated December 2, 2013, had tranches maturing between October 2025 and June 2027.In August 2024, Alcoa cancelled $115 million in undrawn commitments. On November 29, 2024, the company voluntarily repaid the remaining $385 million outstanding and cancelled all remaining commitments, effectively terminating the facility agreement. No early termination penalties or prepayment premiums were incurred in the process.This move follows Alcoa's acquisition of Alumina Limited, which became its wholly-owned subsidiary. The termination of this credit facility may indicate Alcoa's evolving financial strategy post-acquisition, potentially streamlining its debt structure or leveraging its enhanced financial position.
