Eramet completes redemption for euro-denominated bonds due 2024

By William Gullotti

Buffalo, N.Y., June 23 – Eramet SA completed the redemption of its €500 million bonds due February 2024 (ISIN: FR0013284643), of which €286.4 million were outstanding, according to a press release on Friday.

The company conducted a tender offer, which started on May 9, wherein bondholders tendered €143.3 million of their bonds.

Settlement for the tender offer occurred on May 23, leaving the amount that was recently redeemed outstanding.

The completed redemption and subsequent cancellation enables Eramet to further proactively manage the group’s debt profile and to extend its average maturity, which is now almost three years.

The bonds were originally issued Sept. 28, 2017.

Eramet is a mining and metallurgy company based in Paris.

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