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PITTSBURGH--January 22, 1998--
Alcoa announced today the successful sale of $300 million of 30-year
senior unsecured debt.
The 6.75% bonds, due January 15, 2028, were priced to yield 6.803%.
Proceeds from the offering will be used for general corporate purposes
including the purchase of the major assets of Inespal, Spain's
state-owned integrated aluminum producer. The Inespal transaction is
expected to close in early February.
Lead underwriter for the transaction was J. P. Morgan Securities, Inc.
Co-managers were Credit Suisse First Boston, Goldman Sachs & Co. and