Constellium announces expiration and final results of its consent solicitation to amend notes of Wise Metals

AMSTERDAM, Oct. 20, 2014 /PRNewswire/ -- Constellium N.V. (NYSE and NYSE Euronext: CSTM) ("Constellium") today announced the expiration and final results of its previously announced solicitation (the "Consent Solicitation") of consents to certain proposed amendments (the "Proposed Amendments") to the indentures (the "Indentures") governing Wise Metals Group LLC (the "Company") and Wise Alloys Finance Corporation's ("Wise Finance", and, together with the Company, the "Opco Note Issuers") 8¾% Senior Secured Notes due 2018 (the "Opco Notes") and Wise Metals Intermediate Holdings LLC ("Wise Intermediate Holdings") and Wise Holdings Finance Corporation's ("Finco", and, together with Wise Intermediate Holdings, the "Holdco Note Issuers") 93/4 / 10 1/2% Senior PIK Toggle Notes due 2019 (the "Holdco Notes").

As of 5:00 P.M., New York City time, on October 17, 2014 (the "Expiration Date"), Constellium and the Opco Note Issuers had received consent from the holders of more than a majority of the aggregate principal amount of the Opco Notes. Constellium did not receive consent from the holders of more than a majority of the aggregate principal amount of the Holdco Notes by the Expiration Date.

Subject to the terms and conditions set forth in the Consent Solicitation Statement dated October 10, 2014 (the "Statement"), Constellium will pay, on behalf of and as agent for the Opco Note Issuers, to eligible holders of Opco Notes who validly delivered and did not validly revoke their consents on or prior to the Expiration Date, a cash payment equal to $2.50 per $1,000 aggregate principal amount of each issuance of Opco Notes consented (the "Consent Fee"). The Consent Fee will only be payable upon and subject to the occurrence of, among other things, the consummation of the Transaction (as defined below). Holders of Holdco Notes will not receive any Consent Fee and any consents in respect of Holdco Notes delivered prior to the Expiration Date shall have no force and effect.

The Opco Note Issuers, the guarantors party thereto, and Wells Fargo Bank, National Association, as trustee and collateral agent, have entered into a supplemental indenture to the Indenture governing the Opco Notes. While the supplemental indenture became effective upon execution, the Proposed Amendments to the Indenture governing the Opco Notes will not become operative until immediately prior to the consummation of the Transaction. Furthermore, the Proposed Amendments to the