** 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

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))