Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Constellium NV > News item |
Constellium readies launch of bridge loan for Tuesday afternoon
By Sara Rosenberg
New York, Oct. 20 – Constellium NV will hold a conference call at 12:30 p.m. ET on Tuesday to launch its bridge loan, according to a market source.
Deutsche Bank Securities Inc., Goldman Sachs Bank USA, BNP Paribas Securities Corp. and Societe Generale are the lead banks on the deal.
The company previously said that it received a commitment for a bridge loan to back its acquisition of Wise Metals Intermediate Holdings LLC, but that ultimately, the transaction is expected to be funded with a mix of debt and equity that will preserve the company’s capital structure and liquidity.
Under the agreement, Constellium will purchase Wise for $1.4 billion, consisting of $455 million in cash and $945 million in the assumption of Wise’s existing debt.
Closing is subject to customary conditions and regulatory approvals.
Constellium is a Netherlands-based developer of aluminum products. Wise is a Muscle Shoals, Ala.-based aluminum sheet producer.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.