Eramet begins tender offer for euro-denominated bonds due 2024

By Mary-Katherine Stinson

Lexington, Ky., May 9 – Eramet SA announced the launch of a tender offer to repurchase for cash its €500 million bonds due February 2024 (ISIN: FR0013284643), of which €429.7 million is outstanding, according to a press release.

Eramet also announced it plans to offer new sustainability-linked euro-denominated bonds concurrently with the tender offer.

The tender offer is conditioned on settlement of the bond issue, the proceeds of which would be used to fund part of the tender offer and for general corporate purposes.

The company said these transactions will enable it to proactively manage its debt maturity profile and extend its average maturity.

Pricing of the tender offer is expected on May 17 with results to be announced as soon as practicable after, the company noted.

The company stated it may give priority in the allocation of the new bonds to existing bondholders who participate in the tender offer.

The bonds were originally issued Sept. 28, 2017.

Eramet is a mining and metallurgy company based in Paris.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.