<< Mitteilung

2019-11-04 11:08

Eramet: Launch of a tender offer to repurchase its bonds due November 2020 subject to the success of a new bonds issue of a minimum amount of 300 million euros

Paris, November 4, 2019

PRESS RELEASE

Eramet: Launch of a tender offer to repurchase its bonds due November 2020 subject to the success of a new bonds issue of a minimum amount of 300 million euros

Eramet (the “Company”) announces today:

  1. the launch of a tender offer to repurchase for cash its 525 million euros bonds, of which 460.1 million euros are currently outstanding, and due November 2020 (ISIN: FR0011615699) issued in two tranches on November 6, 2013 and May 14, 2014 respectively and which are admitted to trading on the regulated market of Euronext Paris (the “Existing Bonds”) up to a maximum amount of 300 million euros in aggregate principal amount (the “Tender Offer”);
     
  2. its intention to proceed to a new bonds issue denominated in euros of a minimum amount of 300 million euros concurrently with the Tender Offer (the “Bonds Issue”).

The Tender Offer is made under the terms and conditions set out in the Tender Offer Memorandum dated November 4, 2019 and is conditional upon the settlement of the Bonds Issue, the net proceeds of which would be used to fund all or part of the Tender Offer and for general corporate purposes.

These transactions will enable the Company to improve its debt maturity profile.

Results of the Tender Offer will be announced on or about November 20, 2019 (subject to any extension, withdrawal, termination or amendment of this Tender Offer).


 

DISCLAIMER

This press release does not constitute an offer to subscribe the Bonds nor an invitation to participate in the Tender Offer in or from any country or jurisdiction to whom or in which such offer would be unlawful under the applicable laws and regulations.

This press release is not a prospectus for the purposes of the Regulation (EU) 2017/1129 (the “Prospectus Regulation”).

The Bonds are not being subject to a public offering in any country or jurisdiction, including in France, to any person other than qualified investors. Tenders of Existing Bonds for purchase pursuant to the Tender Offer from qualifying holders shall not be accepted in any circumstances where such offer or solicitation is unlawful. Eramet does not make any recommendation as to whether or not qualifying holders should participate in the Tender Offer.

The distribution of this press release may be restricted by law in certain jurisdictions. Persons into whose possession this press release comes should inform themselves about and observe any applicable legal and regulatory restrictions.

Prohibition of sales to EEA retail investors

The Bonds are not intended to be offered, sold or otherwise made available to and should not be offered, sold, or otherwise made available to any retail investors in the European Economic Area (the "EEA"). For these purposes, a retail investor means a person who is one (or more) of:

  1. a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, "MiFID II"); and/or
  2. a customer within the meaning of Directive 2016/97/EU, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II.

France

This press release is only directed at qualified investors as defined under the Prospectus Regulation as amended from time to time and any other applicable law, French law or regulation implementing in France the Prospectus Regulation and its implementing regulations.

United Kingdom

This press release is only directed at qualified investors who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order, or (iii) other persons to whom it may otherwise be lawfully communicated.

United States

This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for bonds nor of any offer or solicitation to sell bonds in the United States. The bonds have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or with any securities regulatory authority of any state or other jurisdiction in the United States, and may not be offered, sold, pledged or otherwise transferred within the United States or to, or for the account or benefit of, U.S. persons, directly or indirectly. The bonds are being offered and sold only outside the United States to non-U.S. persons in compliance with Regulation S under the Securities Act.

The Tender Offer is not being made and will not be made directly or indirectly in or into, to owners of bonds who are located in the United States as defined in Regulation S of the Securities Act or to U.S. Persons as defined in Regulation S of the Securities Act (each a “U.S. Person”) and such Existing Bonds may not be tendered in the Tender Offer by any such use, means, instrumentality or facility from or within the United States, by persons located or resident in the United States or by U.S. Persons. Accordingly, copies of this press release are not being, and must not be, directly or indirectly, mailed or otherwise transmitted, distributed or forwarded in or into the United States or to any such person. Any purported offer to sell in response to the Tender Offer resulting directly or indirectly from a violation of these restrictions will be invalid, and offers to sell made by a person located in the United States or any agent, fiduciary or other intermediary acting on a non-discretionary basis for a principal giving instructions from within the United States or any U.S. Person will not be accepted.

Australia and Japan

The information contained in this press release does not constitute an offer of securities for sale in Australia or Japan.

No communication and no information in respect of the offering by Eramet of bonds may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such steps would be required. The offering and subscription of the bonds may be subject to specific legal or regulatory restrictions in certain jurisdictions and the distribution of this press release in certain countries may constitute a breach of applicable law. Eramet assumes no responsibility for any violation of any such restrictions or applicable law by any person.

Calendar

19.02.2020: Publication of 2019 annual results

20.02.2020: Webcast & presentation of 2019 annual results

28.04.2020: Publication of 2020 first-quarter sales

ABOUT ERAMET

Eramet, a global mining and metallurgical group, is a key player in the extraction and valorisation of metals (manganese, nickel, mineral sands) and the elaboration and transformation of alloys with a high added value (high-speed steels, high-performance steels, superalloys, aluminium and titanium alloys).

The Group supports the energy transition by developing activities with high growth potential. These include lithium extraction and refining, and recycling.

Eramet positions itself as the privileged partner of its customers in sectors that include carbon and stainless steel, aerospace, pigments, energy, and new battery generations.

Building on its operating excellence, the quality of its investments and the expertise of its employees, the Group leverages an industrial, managerial and societal model that is virtuous and value-accretive. As a contributive corporate citizen, Eramet strives for a sustainable and responsible industry.

Eramet employs around 13,000 people in 20 countries with sales of approximately €4 billion in 2018.

For further information, go to www.eramet.com

INVESTOR CONTACT

Executive VP Strategy and Innovation - Investor Relations

Philippe Gundermann
T. +33 1 45 38 42 78

Investor Relations Manager

Sandrine Nourry-Dabi
T. +33 1 45 38 37 02

 

Follow us with the Eramet Finance app:
IOS:
https://itunes.apple.com/fr/app/eramet-finance/id1115212055?mt=8

Android:
https://play.google.com/store/apps/details?id=com.eramet.finance

 
PRESS CONTACT

Communications Director

Pauline Briand

T. +33 1 45 38 31 76

pauline.briand@eramet.com

 

Image 7

Marie Artzner
T. +33 1 53 70 74 31 | M. +33 6 75 74 31 73
martzner@image7.fr

 

 

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