County Authority in Alabama Plans to Sell $100M of Waste Disposal Rev Bonds for Novelis Plant

Dow Jones

Sep 09, 2025

By Josh Beckerman

The Industrial Development Authority of Baldwin County plans to sell $100 million of solid waste disposal revenue bonds related to a Novelis project in Bay Minette, Ala.

Proceeds will be used to finance costs for waste disposal facilities at the aluminum manufacturing plant.

The sale is expected to consist of fixed-rate term bonds with a final maturity date in 2055, priced at 100%, according to a roadshow document posted on MuniOS. The initial mandatory tender date is expected to be June 1, 2032.

Pricing for the Series 2025B bonds is expected as early as Sept. 11. The expected settlement date in Sept. 23.

Novelis, a Hindalco Industries unit, said in 2022 that it would build a new low-carbon recycling and rolling plant in Bay Minette with an initial 600 kilotons of finished aluminum goods capacity a year.

In June, the Industrial Development Authority sold $400 million of solid waste disposal revenue bonds for the Novelis project.

The Series 2025B bonds will be exempt from federal income tax but subject to the alternative minimum tax.

BofA Securities is the underwriter.

The bonds are expected to have a BB rating from S&P Global Ratings, according to the roadshow document. Moody's rated the bonds B1 on Monday, which it said reflects a guarantee from Novelis.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

September 08, 2025 19:01 ET (23:01 GMT)

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Moody's rated the bonds B1 on Monday, which it said reflects a guarantee from Novelis. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 08, 2025 19:01 ET (23:01 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>County Authority in Alabama Plans to Sell $100M of Waste Disposal Rev Bonds for Novelis Plant</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCounty Authority in Alabama Plans to Sell $100M of Waste Disposal Rev Bonds for Novelis Plant\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-09-09 07:01</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Josh Beckerman \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  The Industrial Development Authority of Baldwin County plans to sell $100 million of solid waste disposal revenue bonds related to a <a href=\"https://laohu8.com/S/NVL\">Novelis</a> project in Bay Minette, Ala. \n</p>\n<p>\n  Proceeds will be used to finance costs for waste disposal facilities at the aluminum manufacturing plant. \n</p>\n<p>\n  The sale is expected to consist of fixed-rate term bonds with a final maturity date in 2055, priced at 100%, according to a roadshow document posted on MuniOS. 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Moody's rated the bonds B1 on Monday, which it said reflects a guarantee from Novelis. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Josh Beckerman at josh.beckerman@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 08, 2025 19:01 ET (23:01 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NVL","symbol_name":"Novelis","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2566658716","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2566658716","pubTimestamp":1757372460,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"The Industrial Development Authority of Baldwin County plans to sell $100 million of solid waste disposal revenue bonds related to a Novelis project in Bay Minette, Ala.Proceeds will be used to finance costs for waste disposal facilities at the aluminum manufacturing plant.The sale is expected to consist of fixed-rate term bonds with a final maturity date in 2055, priced at 100%, according to a roadshow document posted on MuniOS. The initial mandatory tender date is expected to be June 1, 2032.Pricing for the Series 2025B bonds is expected as early as Sept. 11. 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The initial mandatory tender date is expected to be June 1, 2032. \n\n\n  Pricing for the Series 2025B bonds is expected as early as Sept. 11. The expected settlement date in Sept. 23. \n\n\n  Novelis, a Hindalco Industries unit, said in 2022 that it would build a new low-carbon recycling and rolling plant in Bay Minette with an initial 600 kilotons of finished aluminum goods capacity a year. \n\n\n  In June, the Industrial Development Authority sold $400 million of solid waste disposal revenue bonds for the Novelis project. \n\n\n  The Series 2025B bonds will be exempt from federal income tax but subject to the alternative minimum tax. \n\n\n  BofA Securities is the underwriter. \n\n\n  The bonds are expected to have a BB rating from S&P Global Ratings, according to the roadshow document. 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