Constellium launches $360 million term loan at Libor plus 500 bps

By Sara Rosenberg

New York, Feb. 27 - Constellium Holdco BV launched its $360 million seven-year term loan on Wednesday with price talk of Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

And, its €75 million seven-year term loan was launched with talk of Euribor plus 550 bps with a 1.25% floor and a discount of 99, the source said.

The term loans are non-callable for one year, then at 102 in year two and 101 in year three.

Commitments are due on March 8, the source added.

Deutsche Bank Securities Inc., Goldman Sachs & Co. and BNP Paribas Securities Corp. are the lead banks on the deal.

Proceeds will be used to refinance existing debt and pay a dividend.

Constellium is a Paris-based designer and manufacturer of aluminum products and components.

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