Eramet begins tender offer for euro-denominated bonds due 2020

By Marisa Wong

Los Angeles, Nov. 4 – Eramet SA announced the launch of a tender offer to repurchase for cash its €525 million bonds due November 2020, of which €460.1 million is outstanding.

Eramet also announced on Monday it plans to offer at least €300 million of new euro-denominated bonds concurrently with the tender offer.

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

The company said these transactions will enable it to improve its debt maturity profile.

Results of the tender offer will be announced on or around Nov. 20, the company noted.

Eramet is a mining and metallurgy company based in Paris.

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