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April 30, 2014 /PRNewswire/ -- Constellium N.V. (NYSE and NYSE Euronext: CSTM) ("Constellium" or the "Company") today announced that the Company has priced a private offering (the "Offering") of
$400 million of U.S. dollar denominated senior notes due 2024 (the "U.S. Dollar Notes") and €300 million of euro denominated notes due 2021 (the "Euro Notes" and, together with the U.S. Dollar Notes, the "Notes"), in each case, at an offering price of 100%. The U.S. Dollar Notes will bear interest at a rate of 5.75% per annum, and the Euro Notes will bear interest at a rate of 4.625% per annum, in each case payable semiannually 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
May 7, 2014, subject to customary closing conditions.
The Company intends to use a portion of the proceeds from the Offering to repay all amounts outstanding under its existing term loan, with the balance to be used for general corporate purposes. There can be no assurance that the Company will successfully complete the Offering on the terms described herein or at all.
The Notes are being 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.
Concurrently with the consummation of the Offering, the Company expects to enter into a new €120 million unsecured revolving credit facility with a term of three years, which the Company expects will be available upon consummation of the Offering.
The Notes have not been registered under the Securities Act of 1933 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 of 1933 and applicable state laws.
This press release shall not constitute an offer to sell or a solicitation of an offer to purchase the Notes or any other securities, and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933.