Arconic redeems all $750 million 5.55% notes due 2017 at 100.427

By Marisa Wong

Morgantown, W.Va., Dec. 30 – Arconic Inc. redeemed all $750 million of its 5.55% notes due 2017 on Friday.

Holders were paid $1,004.27 per $1,000 principal amount, for an aggregate of $753.2 million, plus accrued interest up to but excluding the redemption date, according to a press release.

The company gave notice of the early redemption last month and said the redemption price would be the greater of par and the sum of the present values of the remaining scheduled payments, discounted on a semiannual basis at the Treasury rate plus 12.5 basis points.

Arconic said the redemption is part of its deleveraging program.

Formerly known as Alcoa Inc., Arconic is an aluminum company based in New York.

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