Constellium units call Wise 9¾%/10½% PIK notes due 2019 at 104.87

By Susanna Moon

Chicago, Nov. 7 – Constellium NV said subsidiaries Wise Metals Intermediate Holdings LLC and Wise Holdings Finance Corp. have called their 9¾%/10½% senior PIK toggle notes due 2019.

The notes will be redeemed on Dec. 5 at 104.875% of par plus accrued interest, according to a company announcement.

Constellium said it plans to use cash on hand to pay the redemption.

“This transaction reflects management’s confidence in the company's liquidity position and will reduce gross debt and related interest costs,” the company said in the press release.

Constellium is a Netherlands-based developer of aluminum products.

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