Report

Constellium : Issuance Focus

Constellium is preparing to issue two new unsecured bonds for amounts of $ 450m and € 400m maturing in 2026. At the same time, the group launched a capital increase by issuing 25,000,000 new shares at a price of $ 11 per share, with a greenshoe option of 3,750,000 shares. Proceeds from the two bond issues and the capital increase will be used to repay the following bonds ahead of maturity: 1/ the $ 425m secured 7.875% 2021 notes; 2/ the € 240m unsecured 7% 2023 notes; and 3/ the $ 400m unsecured 8% 2023 notes.>
Underlying
Constellium SE Class A

Constellium N.V. designs and manufactures a range of innovative specialty rolled and extruded aluminum products, serving primarily the aerospace, packaging and automotive end-markets. Co. has a strategic footprint of manufacturing facilities located in the United States, Europe and China. Co.'s product portfolio commands higher margins as compared to less differentiated, more commoditized fabricated aluminum products, such as common alloy coils, paintstock, foilstock and soft alloys for construction and distribution. Co. organizes its business around three operating segments: Aerospace & Transportation, Packaging & Automotive Rolled Products, and Automotive Structures & Industry.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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