Kaiser Aluminum plans $500 million debt offering to refinance 2028 notes

Kaiser Aluminum Corporation (NASDAQ: KALU) announced plans to offer $500 million in senior notes due 2034 through a private placement exempt from Securities Act registration requirements.

The Franklin, Tennessee-based aluminum producer intends to use proceeds from the new debt offering, combined with revolving credit facility borrowings and cash on hand, to redeem all outstanding amounts of its existing 4.625% senior notes due 2028. The new notes will be guaranteed by Kaiser Aluminum's existing and future domestic subsidiaries that participate in the company's revolving credit facility.

Kaiser Aluminum provided conditional notice on October 27, 2025, of its intent to redeem the 2028 notes on November 6, 2025, contingent on successful issuance of debt securities on satisfactory terms and amounts. The completion of the new note offering remains subject to market conditions.

The notes will be offered exclusively to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S. The securities have not been registered under the Securities Act of 1933 or other securities laws.

Kaiser Aluminum produces semi-fabricated specialty aluminum products for aerospace, packaging, automotive, and industrial applications. The company operates North American facilities manufacturing plate, sheet, coil, extrusions, rod, bar, tube, and wire products.

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