Novelis delays deadline for tenders of 7¼% notes

By Susanna Moon

Chicago, June 28 - Novelis Inc. said it extended its change-of-control offer for its 7¼% senior notes due 2015 to 5 p.m. ET July 3 from June 27.

As of June 27, holders had tendered $984,000 of senior notes under the change-of-control offer. The original deadline was 8 a.m. ET June 15.

The company will pay $1,010 per $1,000 principal amount of notes to those who tendered before the new extended deadline.

The offer is being conducted in connection with Hindalco Industries Ltd.'s recently completed acquisition of Novelis, which constituted a change of control under the note indenture.

UBS Investment Bank (888 722-9555 or collect 203 719-4210) and ABN Amro Inc. (212 409-6862) are the dealer managers. Global Bondholder Services Corp. (866 807-2200 or 212 430-3774) is the information agent.

Atlanta-based Novelis focuses on aluminum rolled products and aluminum can recycling.

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