NewsDownstreamConstellium prices notes offering
Constellium Press Release

Constellium prices notes offering

Edited by : AL CIRCLE
2 min read
Constellium N.V. today announced that the Company has priced a private offering (the “Offering”) of $400 million of U.S. dollar denominated senior notes due 2024 (the “U.S. Dollar Notes”) and €300 million of euro denominated notes due 2021 (the “Euro Notes” and, together with the U.S. Dollar Notes, the “Notes”), in each case, at an offering price of 100%. The U.S. Dollar Notes will bear interest at a rate of 5.75% per annum, and the Euro Notes will bear interest at a rate of 4.625% per annum, in each case payable semiannually in arrears. The Notes will be guaranteed on a senior unsecured basis by certain of the Company’s subsidiaries. The Offering is expected to close on May 7, 2014, subject to customary closing conditions.

The Company intends to use a portion of the proceeds from the Offering to repay all amounts outstanding under its existing term loan, with the balance to be used for general corporate purposes. There can be no assurance that the Company will successfully complete the Offering on the terms described herein or at all.

The Notes are being offered and sold to qualified institutional buyers in the United States pursuant to Rule 144A and outside the United States pursuant to Regulation S under the Securities Act of 1933.

Concurrently with the consummation of the Offering, the Company expects to enter into a new €120 million unsecured revolving credit facility with a term of three years, which the Company expects will be available upon consummation of the Offering.

Grow with
AL Circle

KNOW MORE

Responses

E-magazines

VIEW ALL
Aluminium extrusions

Turn marketplace visibility into more relevant buyer enquiries.

Boost Your Listing

Business Cards

FEATURED

VIEW ALL