Montreal, Canada — Alcan Inc. (NYSE, TSX : AL) today announced a public offering issue in the United States of US $500 million 4 1/2 percent global notes, due May 15, 2013.
Morgan Stanley is lead underwriter and sole bookrunner. Credit Suisse First Boston LLC, J.P. Morgan, Citigroup, Deutsche Bank Securities, Merrill Lynch & Co., RBC Dominion Securities Corporation, Scotia Capital and UBS Warburg LLC are co-underwriters of the offering, which is to be made by prospectus only.
Net proceeds to the Company from the sale of the notes will be used to help fund the previously announced acquisition of VAW Flexpac expected to close within the second quarter, and to refinance maturing long-term debt. Alcan is pleased that its strong financial position has allowed the Company to readily access the capital markets on attractive terms.
Alcan is a multinational, market-driven company and a global leader in aluminum and packaging with 2002 revenues of US$12.5 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 48,000 people and has operating facilities in 38 countries.
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Media Contact:
Joseph Singerman
(514) 848-1355
Investor Contact:
Jo-Ann Longworth
(514) 848-8368
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