0001422105-13-000034.txt : 20130531 0001422105-13-000034.hdr.sgml : 20130531 20130531084211 ACCESSION NUMBER: 0001422105-13-000034 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20130529 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130531 DATE AS OF CHANGE: 20130531 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Noranda Aluminum Holding CORP CENTRAL INDEX KEY: 0001422105 STANDARD INDUSTRIAL CLASSIFICATION: PRIMARY PRODUCTION OF ALUMINUM [3334] IRS NUMBER: 208908550 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34741 FILM NUMBER: 13883547 BUSINESS ADDRESS: STREET 1: 801 CRESCENT DRIVE STREET 2: SUITE 600 CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 615-771-5760 MAIL ADDRESS: STREET 1: 801 CRESCENT DRIVE STREET 2: SUITE 600 CITY: FRANKLIN STATE: TN ZIP: 37067 8-K 1 a20138ktermbrefinancing.htm 8-K 2013 8K Term B Refinancing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549
 
FORM 8-K
CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest reported event): May 29, 2013
NORANDA ALUMINUM HOLDING CORPORATION
(Exact Name of Registrant as Specified in Its Charter)

Delaware
001-34741
20-8908550
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification Number)
 
 
 
801 Crescent Centre Drive, Suite 600, Franklin, Tennessee 37067
(Address of Principal Executive Offices) (Zip Code)
 
 
Registrant’s telephone number, including area code: (615) 771-5700

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 1.01 Entry into a Material Definitive Agreement.
On May 29, 2013, Noranda Aluminum Acquisition Corporation (“AcquisitionCo”), a subsidiary of Noranda Aluminum Holding Corporation (the “Company”), entered into an Incremental Amendment No. 2 to Credit Agreement (the “Amendment”) among AcquisitionCo, Bank of America, N.A., as incremental term lender and Bank of America, N.A., as administrative agent, to its existing Senior Secured Term B Loan Facility.

The Amendment provides for an incremental borrowing of $50.0 million, increasing the aggregate principal amount currently outstanding under the current Senior Secured Term B Loan Facility to $481.5 million. Borrowings under the Amendment will be due and payable on February 28, 2019 and will have the same terms as borrowings under the existing Senior Secured Term B Loan Facility, the terms of which are more fully described in the Company's Annual Report on Form 10-K filed with the SEC on February 28, 2013, which is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit
Number    Description
99.1    Press release, dated May 30, 2013









SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
 
NORANDA ALUMINUM
HOLDING CORPORATION
 
 
 
 
 
 
 
Date:
May 31, 2013
 
 
 
By:
/s/ Robert B. Mahoney
 
 
 
 
Robert B. Mahoney
 
 
 
 
Chief Financial Officer
 
 
 
 
 





    





EX-99.1 2 refinancingpressrelease053.htm EXHIBIT 99.1 PRESS RELEASE DATED MAY 30 RefinancingPressRelease053013
Exhibit 99.1

Noranda Announces $50 Million Incremental Term Loan Facility and $15 Million Incremental ABL Commitments
Franklin, Tennessee – May 30, 2013 – Noranda Aluminum Holding Corporation (“Noranda” or the “Company”) (NYSE: NOR) today announced that Noranda Aluminum Acquisition Corporation (“AcquisitionCo”), its wholly-owned subsidiary, has entered into an incremental term loan facility in the amount of $50 million under its existing term loan credit agreement (the “New Loans”). The New Loans will mature in 2019. AcquisitionCo will use the net proceeds from the New Loans for general corporate purposes.
Separately, the Company announced that AcquisitionCo has entered into an incremental asset-based revolving credit facility, consisting of $15 million in additional commitments on a “first-in, last-out” basis, under its existing asset-based revolving credit agreement (the “Incremental ABL”). No funds were drawn under the Incremental ABL at closing. Loans under the Incremental ABL will mature in 2017. AcquisitionCo will use the proceeds of any such loans for general corporate purposes.
“By opportunistically accessing credit markets through these transactions, we have further strengthened our financial flexibility and liquidity position,” said Layle K. (Kip) Smith, Noranda's President and Chief Executive Officer. “Pro forma for the incremental term loan facility and additional ABL commitments, our March 31, 2013 liquidity was $218 million, with no funded debt maturities until 2019. These transactions supplement ongoing operational actions to drive incremental efficiencies and cost savings as we manage our liquidity and preserve our financial flexibility in a challenging LME environment.”
About the Company
Noranda Aluminum Holding Corporation is a leading North American integrated producer of value-added primary aluminum products, as well as high quality rolled aluminum coils. Noranda is a public company traded on the New York Stock Exchange.
Forward‐Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause the Company’s actual results to differ materially from those expressed in forward-looking statements, including, without limitation: the cyclical nature of the aluminum industry and fluctuating commodity prices, which cause variability in earnings and cash flows; a downturn in general economic conditions, including changes in interest rates, as well as a downturn in the end-use markets for certain of the Company’s products; fluctuations in the relative cost of certain raw materials and energy compared to the price of primary aluminum and aluminum rolled products; the effects of competition in Noranda’s business lines; Noranda’s ability to retain customers, a substantial number of which do not have long-term contractual arrangements with the Company; the ability to fulfill the business’s substantial capital investment needs; labor relations (i.e. disruptions, strikes or work stoppages) and labor costs; unexpected issues arising in connection with Noranda’s operations outside of the United States; the ability to retain key management personnel; and Noranda’s expectations with respect to its acquisition activity, or difficulties encountered in connection with acquisitions, dispositions or similar transactions.
Forward-looking statements contain words such as “believes,” “expects,” “may,” “should,” “pursue,” “seeks,” “approximately,” “anticipates,” “intends,” “plans,” “estimates,” or “anticipates” or similar expressions that relate to Noranda’s strategy, plans or intentions. All statements Noranda makes relating to its future plans or to the Company’s expectations regarding future industry trends are forward-looking statements. Noranda undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs.
For a discussion of additional risks and uncertainties that may affect the future results of Noranda, please see the Company’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.

    




Contact Information
John A. Parker
Vice President of Communication and Investor Relations
(615) 771-5734
john.parker@noralinc.com


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