Constellium Announces Partial Redemption of 5.875% Senior Notes due 2026

Rhea-AI Summary

Constellium SE (NYSE: CSTM) announced its plan to redeem $200 million of its $500 million 5.875% Senior Notes due 2026. The redemption, set for November 25, 2021, will occur at a price of 101.469% plus accrued interest. This action follows the Indenture dated November 9, 2017, and aims to manage the company's debt obligations effectively. Constellium, which reported €4.9 billion in revenue for 2020, continues to position itself as a leader in innovative aluminum products across various markets, including aerospace and automotive.

Positive

• Redemption of $200 million of Senior Notes indicates proactive debt management.
• Higher redemption price of 101.469% reflects market confidence.

Negative

• None.

PARIS, Oct. 26, 2021 (GLOBE NEWSWIRE) -- Constellium SE (NYSE: CSTM) (“Constellium” or the “Company”) today announced that it has called for redemption $200,000,000 of the $500,000,000 outstanding aggregate principal amount of its 5.875% Senior Notes due 2026 (the “Notes”, and the redemption thereof, the “Redemption”), pursuant to that certain Indenture, dated as of November 9, 2017, among the Company, the guarantors party thereto, Deutsche Bank Trust Company Americas, as Trustee. The Company expects the redemption date for the Notes being redeemed to occur on November 25, 2021 (the “Redemption Date”). The redemption price for the Notes is 101.469% of the aggregate principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, to the Redemption Date.

This press release shall not constitute an offer to sell, or a solicitation of an offer to purchase, any securities, shall not constitute an offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful, and shall not constitute a notice of redemption.

About Constellium

Constellium (NYSE: CSTM) is a global sector leader that develops innovative, value added aluminium products for a broad scope of markets and applications, including aerospace, automotive and packaging. Constellium generated €4.9 billion of revenue in 2020.

Forward-looking Statements

Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This press release may contain “forward-looking statements” with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they contain words such as, but not limited to, “believes,” “expects,” “may,” “should,” “approximately,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” likely,” “will,” “would,” “could” and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets, while others are more specific to our business and operations. These risks and uncertainties include, but are not limited to: market competition; economic downturn; disruption to business operations, including the length and magnitude of disruption resulting from the global COVID-19 pandemic; the inability to meet customer demand and quality requirements; the loss of key customers, suppliers or other business relationships; the capacity and effectiveness of our hedging policy activities; the loss of key employees; levels of indebtedness which could limit our operating flexibility and opportunities; and other risk factors set forth under the heading “Risk Factors” in our Annual Report on Form 20-F, and as described from time to time in subsequent reports filed with the U.S. Securities and Exchange Commission. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Consequently, actual results may differ materially from the forward-looking statements contained in this press release. We undertake no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

Ryan Wentling – Investor Relations	Delphine Dahan-Kocher – External Communications
Phone: +1 443 988 0600	Phone: +1 443 420 7860
Investor-relations@constellium.com	delphine.dahan-kocher@constellium.com

FAQ

What is the redemption amount for Constellium's Senior Notes?

Constellium is redeeming $200 million of its $500 million Senior Notes.

When is the redemption date for Constellium's Senior Notes?

The redemption date is set for November 25, 2021.

What is the redemption price for the Senior Notes being redeemed?

The redemption price is 101.469% of the aggregate principal amount, plus accrued interest.

What type of products does Constellium specialize in?

Constellium specializes in innovative aluminum products for aerospace, automotive, and packaging markets.

What was Constellium's revenue in 2020?

Constellium generated €4.9 billion in revenue for the year 2020.