Constellium Prices Notes Offering
(Thomson Reuters ONE) -
AMSTERDAM, The Netherlands, Nov. 02, 2017 (GLOBE NEWSWIRE) -- Constellium N.V.
(NYSE:CSTM) (Euronext Paris:CSTM) ("Constellium" or the "Company") today
announced that the Company has priced a private offering (the "Notes Offering")
of $500 million of senior unsecured notes due 2026 (the "Dollar Notes") and ?400
million of senior unsecured notes due 2026 (the "Euro Notes" and together with
the Dollar Notes, the "Notes"). The Dollar Notes will bear interest at a rate of
5.875% per annum, and the Euro Notes will bear interest at a rate of 4.250% 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 November 9, 2017, subject to
customary closing conditions.
The Company expects to use the net proceeds from the Offering, together with
cash on hand and proceeds from its recently announced offering of Class A
ordinary shares (the "Equity Offering"), to repurchase pursuant to its recently
announced tender offers (the "Tender Offers"), and/or redeem, satisfy and
discharge in accordance with the applicable indentures, all of its outstanding
7.875% Senior Secured Notes due 2021, 7.00% Senior Notes due 2023, and 8.00%
Senior Notes due 2023 (collectively, the "Tender Offer Notes"). Constellium
intends to use the remaining net proceeds, if any, from the Offering and the
Equity Offering for general corporate purposes.
The Notes will be 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, as amended (the "Securities
Act"). The Notes have not been registered under the Securities Act 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 and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an
offer to purchase the ordinary shares, the Notes or any other securities, shall
not constitute an offer, solicitation or sale in any state or jurisdiction in
which such an offer, solicitation or sale would be unlawful, and shall not
constitute a notice of redemption of the Tender Offer Notes.
About Constellium
Constellium (NYSE and Euronext Paris:CSTM) is a global sector leader that
develops innovative, value added aluminium products for a broad scope of markets
and applications, including aerospace, automotive and packaging. Constellium
generated ?4.7 billion of revenue in 2016.
Forward-looking Statements
Certain statements contained in this press release may constitute forward-
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended. This press release may contain "forward looking
statements" with respect to the Equity Offering, the Notes Offering, the Tender
Offers, the redemption of the Tender Offer Notes, our business, results of
operations and financial condition, and our expectations or beliefs concerning
future events and conditions. You can identify forward-looking statements
because they contain words such as, but not limited to, "believes," "expects,"
"may," "should," "approximately," "anticipates," "estimates," "intends,"
"plans," "targets," likely," "will," "would," "could" and similar expressions
(or the negative of these terminologies or expressions). All forward-looking
statements involve risks and uncertainties. Many risks and uncertainties are
inherent in our industry and markets. Others are more specific to our business
and operations. These risks and uncertainties include, but are not limited to,
the ability of Constellium and Wise Metals to achieve expected synergies and the
timing thereof, Constellium' s increased levels of indebtedness which could
limit Constellium' s operating flexibility and opportunities; the potential
failure to retain key employees, the loss of customers, suppliers and other
business relationships; disruptions to business operations; slower or lower than
expected growth in the North American market for Body-in-White aluminium rolled
products, and other risk factors set forth under the heading "Risk Factors" in
our Annual Report on Form 20-F and our registration statement on Form F-3, filed
on October 30, 2017, and as described from time to time in subsequent reports
filed with the U.S. Securities and Exchange Commission. The occurrence of the
events described and the achievement of the expected results depend on many
events, some or all of which are not predictable or within our control.
Consequently, actual results may differ materially from the forward-looking
statements contained in this press release. We undertake no obligation to update
or revise any forward-looking statement as a result of new information, future
events or otherwise, except as required by law.
Ryan Wentling - Investor Relations
Phone: +1 (212) 675-5450
Investor-relations(at)constellium.com
Delphine Dahan-Kocher - Communications
Phone: +1 (212) 858 9963
delphine.dahan-kocher(at)constellium.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Constellium Paris via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 02.11.2017 - 18:53 Uhr
Sprache: Deutsch
News-ID 566481
Anzahl Zeichen: 6152
contact information:
Town:
Paris
Kategorie:
Business News
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