May 14, 2018   SOURCE: BusinessWire

JW Aluminum Announces Proposed Offering of $285 Million of Senior Secured Notes

JW Aluminum Continuous Cast Company (collectively with its subsidiaries, the “Company”), a wholly-owned subsidiary of JW Aluminum Holding Corp., announced today that it is proposing to issue $285 million aggregate principal amount of Senior Secured Notes due 2026 (the “Notes”) in a private offering that is exempt from the registration requirements of the Securities Act of 1933 (the “Securities Act”). The Company intends to offer the Notes to qualified institutional buyers in accordance with Rule 144A or outside the United States in accordance with Regulation S under the Securities Act.

The net proceeds from the offering will be used to repay the Company’s $151.0 million secured term loan and to modernize and refresh the Company’s capacity at its Mount Holly operation, which will include the installation of proven, state-of-the-art equipment expected to result in substantial operating cost savings and additional production capacity. Assuming successful completion of the offering, the Company will have no outstanding debt maturing prior to 2023.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes, nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The offer and sale of the Notes will not be registered under the Securities Act or applicable state securities laws, and the Notes are being offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act and outside the United States in accordance with Regulation S under the Securities Act. Unless so registered, the Notes cannot be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.

About JW Aluminum:

JW Aluminum manufactures specialty flat-rolled aluminum products including fin stock used by the heating and cooling industry, light gauge converter foil for the flexible packaging industry, honeycomb foil for the aerospace industry, bare and painted sheet products for window coverings and the building and construction markets, as well as other foil and sheet products.

JWA operates plants in Mt. Holly, South Carolina; St. Louis, Missouri; Russellville, Arkansas and Williamsport, Pennsylvania.