Constellium wraps tender offer for 7 7/8% notes, 7% notes, 8% notes

By Marisa Wong

Morgantown, W.Va., Nov. 9 – Constellium NV said holders had tendered $229,854,000 of its 7 7/8% senior secured notes due 2021, €128,926,000 of its 7% senior notes due 2023 and $243,642,000 of its 8% senior notes due 2023 as of 5 p.m. ET on Nov. 6, the expiration of its previously announced cash tender offer.

The company said it accepted all of the tendered notes for purchase on Nov. 9.

The tender offer for any and all of Constellium’s outstanding $425 million of 7 7/8% notes, €240 million of 7% notes and $400 million of 8% notes began on Oct. 30.

For each $1,000 or €1,000 principal amount of tendered notes, the company paid $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 also paid accrued interest up to but excluding the settlement date.

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 will 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, slated for Thursday.

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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