Constellium begins tender offers for 7 7/8% notes, 7% notes, 8% notes

By Angela McDaniels

Tacoma, Wash., Oct. 30 – Constellium NV began tender offers for its $425 million 7 7/8% senior secured notes due 2021, €250 million 7% senior notes due 2023 and $400 million 8% senior notes due 2023, according to a company news release.

Per $1,000 or €1,000 principal amount, the company is offering $1,062.29 for the 7 7/8% notes, €1,065.00 for the 7% notes and $1,070.79 for the 8% notes.

The company will also pay accrued interest up to but excluding the settlement date, which is expected to be Nov. 9.

The tender offers will end at 5 p.m. ET on Nov. 6.

Concurrently with the commencement of the tender offers, the company called all of the outstanding notes for redemption.

The redemption price for each series of notes is par plus the applicable premium and accrued interest.

The company expects the redemption date to be Nov. 29 for the 7 7/8% notes and the 8% notes and Nov. 30 for the 7% notes.

The company expects to fund the tender offers and redemption with the proceeds of an offering of senior notes and class A ordinary shares and cash on hand. The tender offers and the redemptions are conditioned on the closing of the financing transaction.

The dealer managers are Deutsche Bank Securities Inc. (212 250-7527 or 855 287-1922) and Credit Suisse Securities (USA) LLC (212 325-6340 or 800 820-1653). The information agent and tender agent is D.F. King & Co. Inc. (866 544-8778, 212 269-5550, +44 20 7920 9700 or cstm@dfking.com).

Amsterdam-based Constellium makes value-added aluminum products.

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