Constellium to price €535 million equivalent eight-year notes Friday

By Paul A. Harris

Portland, Ore., Dec. 3 – Constellium NV plans to take part in an investor conference call on Thursday to present its €535 million equivalent offering of senior notes due Jan. 15, 2023 (expected ratings B1/B), according to a market source.

The Rule 144A and Regulation S for life offer is coming in dollar- and euro-denominated tranches, the sizes of which remain to be determined.

Pricing is set for Friday.

Deutsche Bank and Goldman Sachs are joint bookrunners for both tranches. BNP Paribas is a joint bookrunner for the dollar-denominated tranche. SG CIB is a joint bookrunner for the euro-denominated tranche.

HSBC, Natixis, Mediobanca and Morgan Stanley are the co-managers.

The notes become callable after three years at par plus 75% of the coupon.

Proceeds will be used to finance the acquisition of Wise Metals Intermediate Holdings LLC.

Constellium is an Amsterdam-based developer of value added aluminum products for markets including aerospace, automotive and packaging.

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