Constellium settles $165.68 million tenders for 6 5/8% notes due 2025

By Taylor Fox

New York, Feb. 24 – Constellium SE announced it settled its offer to purchase any and all of its $650 million outstanding 6 5/8% senior notes due 2025, according to a 6-K filing with the Securities and Exchange Commission.

As of the 5 p.m. ET Feb. 19 expiration time, $165,681,000 of the notes were validly tendered and accepted by the company.

As previously reported, holders who tendered their notes before the expiration time will be eligible to receive $1,018.25 per $1,000 principal amount of notes plus accrued interest.

Deutsche Bank Securities Inc. is the dealer manager for the tender, and D.F. King & Co. Inc. is tender agent and information agent.

The company used proceeds from a new offering of $500 million 3¾% sustainability-linked senior notes due 2029 and cash on hand to fund the tender offer.

As previously announced, the company also called for redemption all of the 6 5/8% notes due 2025 that remain outstanding after the tender offer. The redemption was conditioned on the new financing, which was completed on Wednesday.

The outstanding notes will be redeemed on March 11 at 101.656 plus interest.

The aluminum products company based in Amsterdam.

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