Constellium N.V. (NYSE and NYSE Euronext: CSTM) (“Constellium” or the “Company”) today announced that the Company has priced a private offering (the “Offering”) of $400 million of U.S. dollar denominated senior notes due 2023 (the “U.S. Dollar Notes”) and €240 million of euro denominated senior notes due 2023 (the “Euro Notes” and, together with the U.S. Dollar Notes, the “Notes”). The U.S. Dollar Notes will bear interest at a rate of 8.00% per annum, and the Euro Notes will bear interest at a rate of 7.00% per annum, in each case payable semi-annually 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 December 19, 2014, subject to customary closing conditions.
The Company intends to use a portion of the proceeds from the Offering to finance the Company’s acquisition of Wise Metals Intermediate Holdings LLC (“Wise Metals”), pay related fees and expenses of the Offering and 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.
The Notes have not been registered under the Securities Act of 1933 or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act of 1933 and applicable state laws.
This press release does not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities and does not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
In relation to each member state of the European Economic Area which has implemented the 2003/71/EC directive as amended (the “Prospectus Directive”) (each a “Relevant Member State”), an offer of securities to the public has not been made and will not be made in that Relevant Member State, except that an offer in that Relevant Member State of securities may be made at any time to any legal entity which is a qualified investor as defined in the Prospectus Directive, if the qualified investor prospectus exemption has been implemented in that Relevant Member State and provided that no such offer shall result in a requirement for the publication of a prospectus in that Member State.
