10 DECEMBER 2015Constellium Press Release
Wise Alloys LLC exploring alternatives to refinance its existing ABL
Edited by : AL CIRCLE
1 min read
Constellium N.V. today announced that its indirect wholly-owned subsidiary Wise Alloys LLC is exploring alternatives to refinance its existing Asset Based Lending facility, including engaging in discussions with both current and potential new lenders.
Wise currently intends to seek to refinance its existing ABL with a facility that will have a maturity of five years and will be secured by the same collateral as the existing ABL, but which will not be guaranteed by Constellium.
This is one of the actions in connection with the ongoing exploration of alternatives for Wise, which Constellium announced on November 5, 2015.
There can be no assurance as to when or whether Wise will refinance its existing ABL facility, and the terms of any such refinancing are not agreed at this time. Neither Wise nor Constellium intends to further update this disclosure until such time as the definitive terms of any refinancing are agreed.
Goldman Sachs has been engaged to assist in arranging the new ABL facility.
Wise currently intends to seek to refinance its existing ABL with a facility that will have a maturity of five years and will be secured by the same collateral as the existing ABL, but which will not be guaranteed by Constellium.
This is one of the actions in connection with the ongoing exploration of alternatives for Wise, which Constellium announced on November 5, 2015.
There can be no assurance as to when or whether Wise will refinance its existing ABL facility, and the terms of any such refinancing are not agreed at this time. Neither Wise nor Constellium intends to further update this disclosure until such time as the definitive terms of any refinancing are agreed.
Goldman Sachs has been engaged to assist in arranging the new ABL facility.
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