Novelis expects to close the offering of the notes on 13 January 2025, subject to the satisfaction of customary closing conditions. The company intends to use the net proceeds from the offering to repay $738 million of outstanding borrowings under its revolving credit facility and to use any remaining net proceeds to fund cash on its balance sheet for general corporate purposes. Hindalco Industries, the metals flagship of the Aditya Birla Group, is the world's largest aluminium rolling and recycling company, a major copper player, and one of Asia's largest producers of primary aluminium. In India, Hindalco's aluminium manufacturing units cover the complete value chain, from bauxite mining, alumina refining, coal mining, captive power generation and aluminium smelting, to downstream value-addition of aluminium rolling, extruding, and foil making.