Constellium’s Wise Alloys looks at options to refinance ABL facility

By Angela McDaniels

Tacoma, Wash., Dec. 9 – Wise Alloys LLC, an indirect wholly owned subsidiary of Constellium NV, is exploring alternatives to refinance its existing asset-based lending facility, including engaging in discussions with current and potential new lenders.

Wise will seek to refinance the ABL facility with a five-year facility that will be secured by the same collateral as the existing ABL facility but will not be guaranteed by Constellium.

This action is being taken in connection with the ongoing exploration of alternatives for Wise, according to a Constellium news release.

Goldman Sachs will assist in arranging the new ABL facility.

Wise Alloys makes sheet aluminum and is located in Muscle Shoals, Ala. Amsterdam-based Constellium makes value-added aluminum products.

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