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Oct. 16, 2012 /PRNewswire/ -- Aleris International, Inc. (the "Company") today announced that it intends to commence a private offering, subject to market conditions, of 400 million aggregate principal amount of senior unsecured notes due 2020 (the "Notes"). The Notes will be guaranteed on a senior unsecured basis by certain of the Company's domestic subsidiaries. There can be no assurance that the private offering of the Notes will be completed.
The Company intends to use the net proceeds from the sale of the Notes (i) for general corporate purposes, including working capital, capital expenditures and/or funding the completion of the construction of the Company's aluminum rolling mill in
China and/or (ii) to fund acquisition opportunities that may become available to the Company from time to time. In addition, after
March 31, 2013 the Company may pay one or more cash dividends from time to time to Aleris Corporation, which will then dividend such funds,
pro rata, to its stockholders.
The Notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the "Securities Act"). The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside
the United States pursuant to Regulation S, each under the Securities Act.
The Notes have not been registered under the Securities Act and may not be offered or sold in
the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws.
This press release is for informational purposes only and is not an offer to sell or purchase nor the solicitation of an offer to sell or purchase securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful. Any offer of the Notes will be made only by means of a private offering memorandum.