Noranda Aluminum has priced the offering of unsecured notes it announced last month, although executives are having to be content with selling just $175 million instead of the $225 million they had aimed for. To make up for that, the company has increased the size of a new term loan it wants to $110 million from $60 million. On top of that, the rate that the new 2019 debt will carry is 11 percent, more than double that of the floating-rate notes it is replacing. Shares of Noranda (Ticker: NOR) dove below $5 last week and are now changing hands at record lows.
POSTDATA: WARRANTY DEEDS