Noerr advises Novelis Inc. on US$1.8 billion refinancing deal

Noerr has advised Novelis Inc., the world leader in rolled aluminium products, on an international finance transaction. Novelis Inc., which belongs to India’s Hindalco Industries, successfully refinanced the US$1.8 billion term loan B line still existing after the acquisition by Hindalco.

The refinancing and restructuring transaction was handled by an international banking consortium under the lead of the British Standard Chartered Bank, for the first time with the involvement of numerous Asian, particularly Indian, banks. The term of the refinancing transaction is five and a half years.

The Novelis Group was advised in this transaction with respect to German law by Noerr’s lawyers Sebastian Bock (partner) and Dr Ivan Zlatanov on legal issues and by tax advisors Dr Michaela Engel and Elisabeth Dworschak on tax issues. This team had already advised Novelis last year on its successful issue of two high-yield bonds and on restructuring the group’s financing structure. The placed bond volume was US$2.65 billion. Headquartered in Atlanta, USA, Novelis Inc. is a global producer of rolled aluminium products. Its revenue in 2014 was close to US$10 billion.

Advisors to Novelis Inc.: Noerr LLP

Sebastian Bock, Dr Ivan Zlatanov (both Banking & Finance, Frankfurt); Dr Michaela Engel, Elisabeth Dworschak (both Tax, Munich)