ASX-listed Alcoa Corp drops on debt offering announcement

Shares of ASX-listed Alcoa Corp AAI.AX fall 5.4% to A$51.15, their lowest level since September 24

Bauxite miner announces a $1 billion debt offering

Says to use funds from the offering to manage internal debts and dividends within its unit

U.S.-listed shares of the firm AA.N dropped 5.8% overnight

Stock is one of the biggest percentage losers in the ASX200 benchmark index .AXJO

Stock fell as much as 7% earlier in the day, marking its worst intraday drop since February 24

Stock down 13.6% YTD