# Novelis Inc. — capital_raise [announced]
Source: SEC API (secapi.ai) · situation sit_1cfe0053d78db8831b2c · retrieved 2026-08-11T16:12:00.873Z

## Overview
Novelis Inc. is a rolling, drawing, and extruding company specializing in nonferrous metals.

On July 23, 2026, Novelis Inc. entered into a facility agreement with MUFG Bank, LTD. (Hong Kong Branch) as agent to establish a $500 million short-term unsecured term loan facility. The borrower, Novelis Corporation, drew the full facility on July 24, 2026. The loan will mature 24 months from first utilization (July 24, 2026), accrues interest at Term SOFR plus 1.00% margin (or 1.25% if the Company's credit rating falls below specified thresholds), and may be voluntarily prepaid after September 21, 2026. The facility is guaranteed by Novelis Inc. and contains customary affirmative and negative covenants, including limitations on mergers, acquisitions, indebtedness, and restricted payments.

## Terms
- Counterparty: MUFG Bank, LTD. · Deal value: $500.0M · Consideration: cash

## Key dates
- Announced 2026-07-27 · Expiry 2028-07-24

## Timeline
- 2026-07-27 · 8-K (0001304280-26-000026): 8-K - Novelis Inc. — *Novelis Inc. is a rolling, drawing, and extruding company specializing in nonferrous metals.* On July 23, 2026, Novelis Inc. entered into a facility agreement with MUFG Bank, LTD. (Hong Kong Branch) as agent to establish a $500 million short-term unsecured term loan facility. The borrower, Novelis Corporation, drew the full facility on July 24, 2026. The loan will mature 24 months from first utilization (July 24, 2026), accrues interest at Term SOFR plus 1.00% margin (or 1.25% if the Company's credit rating falls below specified thresholds), and may be voluntarily prepaid after September 21, 2026. The facility is guaranteed by Novelis Inc. and contains customary affirmative and negative covenants, including limitations on mergers, acquisitions, indebtedness, and restricted payments.
  https://www.sec.gov/Archives/edgar/data/1304280/0001304280-26-000026.txt

## Citations
- 0001304280-26-000026 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000130428026000026