Kaiser Aluminum prices $500 million in senior notes due 2034

FRANKLIN, Tenn. - Kaiser Aluminum Corporation (NASDAQ:KALU), with a market capitalization of $1.49 billion, has priced $500 million aggregate principal amount of 5.875% senior notes due 2034 in a private transaction, according to a press release statement issued Monday.

The notes will be guaranteed by Kaiser Aluminum’s existing and future domestic subsidiaries that are borrowers or guarantors under the company’s revolving credit facility. The offering is expected to close on November 5, 2025, subject to customary closing conditions.

The aluminum producer plans to use the net proceeds from the offering, along with borrowings under its revolving credit facility and/or cash on hand, to redeem all outstanding amounts of its existing 4.625% senior notes due 2028.

The company had previously announced on Monday that it provided conditional notice of its intent to redeem the 2028 notes on November 6, 2025, contingent upon the successful issuance of debt securities.

The newly priced notes and related guarantees have not been registered under the Securities Act of 1933 and will be offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S.

Kaiser Aluminum, headquartered in Franklin, Tennessee, produces semi-fabricated specialty aluminum products for various industries including aerospace, packaging, automotive, and general engineering applications. The company’s stock is included in the Russell 2000 index and the S&P Small Cap 600 index.

In other recent news, Kaiser Aluminum Corporation reported third-quarter adjusted earnings per share of $1.86, significantly surpassing the analyst consensus estimate of $0.89. This impressive earnings result was attributed to favorable metal pricing and operational improvements. The company also reported revenue of $844 million, which was slightly below the consensus estimate of $850 million but marked a 12.8% increase from $748 million in the same quarter last year. Despite an 8% year-over-year decrease in shipment volume, revenue growth remained strong, partly due to a planned partial outage at the Trentwood facility.

Additionally, Kaiser Aluminum announced plans to offer $500 million in senior notes due 2034. The proceeds from this offering, along with borrowings under its revolving credit facility and/or cash on hand, are intended to redeem all outstanding amounts of its existing 4.625% senior notes due 2028. These recent developments highlight the company’s strategic financial maneuvers and operational resilience.

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