MONTREAL, CANADA — Alcan Inc. announced today the public offering of euro 600 million, of 5.5% euro notes due 2006. The notes are priced at 99.818% of their principal amount to yield 5.5425% with interest payable annually.
The issue is being lead by Morgan Stanley & Co. International Limited and Credit Suisse First Boston (Europe) Limited.
Net proceeds to the Company from the sale of the Notes will be used to repay debt outstanding under bank credit facilities and commercial paper borrowings issued at variable interest rates.
Alcan is a multinational, market-driven company and a global leader in aluminum and specialty packaging with annual revenues of approximately US$13 billion. With world-class operations in primary aluminum, fabricated aluminum as well as flexible and specialty packaging, Alcan is well positioned to meet and exceed its customers' needs for innovative solutions and service. Alcan employs 53,000 people and has operating facilities in 39 countries.
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Marc Osborne
+1 (514) 848-1342
Investor Contact:
Michael Hanley
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