PITTSBURGH--(BUSINESS WIRE)-- Alcoa Corporation (NYSE: AA ) ("Alcoa") announced today that Alcoa Nederland Holding B.V., a wholly-owned subsidiary of Alcoa, closed its offering of $750 million aggregate principal amount of 7.125% senior notes due 2031 (the "notes"). The notes are guaranteed on a senior unsecured basis by Alcoa and certain of its subsidiaries. The notes represent Alcoa's inaugural Green Finance Instrument in alignment with its Green Finance Framework (the "Framework"). Alcoa intends to use an amount equal to the net proceeds of the issuance of the notes to finance and/or refinance, in whole or in part, new and/or existing projects that meet certain eligibility criteria within the Framework. The net proceeds will also support Alcoa's cash position and ongoing cash needs, including with respect to its previously announced portfolio actions. Additional details on eligibility criteria and use of proceeds are available in the Framework.