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BRIEF- Novelis to redeem $74 mln in notes

Oct 10 (Reuters) - Novelis Inc :

* Press release - Novelis to redeem $74 million in outstanding 7.25% senior

notes

* Novelis- co plans to fund this redemption through an $80 million issuance of

additional floating rate term loan B debt

* Redemption price is 101.208% plus accrued and unpaid interest at the

redemption date

* Also amending term loan maintenance covenant, from total net debt to EBITDA

to total net senior secured debt to EBITDA

* Source text * Further company coverage ((Bangalore Newsroom; +1 646 223 8780))