XML 69 R27.htm IDEA: XBRL DOCUMENT
v3.19.1

Borrowings | 12 Months Ended
--- | ---
Dec. 31, 2018
Text block [abstract] |
Borrowings | NOTE 21—BORROWINGS 21.1 Analysis by nature
|  | December 31, 2018 |  |  | December 31, 2017 |
(in millions of Euros) |  | Nominal Value in Currency |  |  | Nominal rate |  |  | Effective rate |  |  | Nominal Value In Euros |  |  | (Arrangement fees) |  |  | Accrued interests |  |  | Carrying value |  |  | Carrying value |
Secured Pan US ABL (due 2022) |  |  | — |  |  |  | Floating |  |  |  | 4.51 | % |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 65 |
Secured Inventory Based Facility (due 2019) |  |  | — |  |  |  | Floating |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Senior Unsecured Notes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Constellium N.V. (Issued May 2014, due 2024) |  | $ | 400 |  |  |  | 5.75 | % |  |  | 6.26 | % |  |  | 349 |  |  |  | (4 | ) |  |  | 3 |  |  |  | 348 |  |  |  | 332 |
Constellium N.V. (Issued May 2014, due 2021) |  | € | 300 |  |  |  | 4.63 | % |  |  | 5.16 | % |  |  | 300 |  |  |  | (2 | ) |  |  | 2 |  |  |  | 300 |  |  |  | 298 |
Constellium N.V. (Issued February 2017, due 2025) |  | $ | 650 |  |  |  | 6.63 | % |  |  | 7.13 | % |  |  | 568 |  |  |  | (12 | ) |  |  | 12 |  |  |  | 568 |  |  |  | 541 |
Constellium N.V. (Issued November 2017, due 2026) |  | $ | 500 |  |  |  | 5.88 | % |  |  | 6.26 | % |  |  | 437 |  |  |  | (7 | ) |  |  | 10 |  |  |  | 440 |  |  |  | 413 |
Constellium N.V. (Issued November 2017, due 2026) |  | € | 400 |  |  |  | 4.25 | % |  |  | 4.57 | % |  |  | 400 |  |  |  | (7 | ) |  |  | 6 |  |  |  | 399 |  |  |  | 395 |
Unsecured Revolving Credit Facility (due 2021)(A) |  |  | — |  |  |  | Floating |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other loans (including Finance leases) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 94 |  |  |  |  |  |  |  | 2 |  |  |  | 96 |  |  |  | 83 |
Total Borrowings |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,148 |  |  |  | (32 | ) |  |  | 35 |  |  |  | 2,151 |  |  |  | 2,127 |
Of which non-current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,094 |  |  |  | 2,021 |
Of which current |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 57 |  |  |  | 106 |
Constellium N.V. Senior Notes are guaranteed by certain subsidiaries.
(A) | On March 28, 2018, Constellium Issoire entered into a €10 million unsecured Revolving Credit Facility with BPI France, a related party.
21.2 Movements in borrowings
(in millions of Euros) |  | Year ended December 31, 2018 |  |  | Year ended December 31, 2017 |
At January 1, |  |  | 2,127 |  |  |  | 2,468 |
Cash flows |  |  |  |  |  |  |  |
Proceeds from issuance of Senior Notes (A) (B) |  |  | — |  |  |  | 1,440 |
(Repayments) of Senior Notes (B) (C) |  |  | — |  |  |  | (1,559 | )
(Repayments) / Proceeds from US Revolving Credit Facilities and other loans |  |  | (68 | ) |  |  | 29 |
Arrangement fees payment |  |  | — |  |  |  | (29 | )
Finance lease repayment and others |  |  | (15 | ) |  |  | (13 | )
Non-cash changes |  |  |  |  |  |  |  |
Movement in interests accrued or capitalized |  |  | 12 |  |  |  | (13 | )
New finance leases |  |  | 28 |  |  |  | 17 |
Deferred arrangement fees, step-up amortization and other |  |  | 2 |  |  |  | 7 |
Effects of changes in foreign exchange rates |  |  | 65 |  |  |  | (220 | )
At December 31 |  |  | 2,151 |  |  |  | 2,127 |
(A) | The proceeds from the Senior Notes issued on November 9, 2017 represented €830 million, converted at the issuance date exchange rate of EUR/USD=1.1630.
(B) | The proceeds from the Senior Notes issued on February 16, 2017 represented €610 million, converted at the issuance date exchange rate of EUR/USD=1.0652. The repurchase of Muscle Shoals Senior Notes was completed on the same day for the same amount.
(C) | The redemption of Secured and Unsecured Notes on November 9, 2017 represented €949 million, converted at the redemption date exchange rate of EUR/USD=1.1630.
21.3 Currency concentration The composition of the carrying amounts of total borrowings in Euro equivalents is denominated in the currencies shown below:
(in millions of Euros) |  | At December 31, 2018 |  |  | At December 31, 2017 |
U.S. Dollar |  |  | 1,408 |  |  |  | 1,387 |
Euro |  |  | 726 |  |  |  | 720 |
Other currencies |  |  | 17 |  |  |  | 20 |
Total borrowings |  |  | 2,151 |  |  |  | 2,127 |
Covenants The Group was in compliance with all applicable debt covenants at and for the years ended December 31, 2018 and 2017. Constellium N.V. Senior Notes The indentures for our outstanding Senior Notes contain customary terms and conditions, including amongst other things, limitation on incurring or guaranteeing additional indebtedness, on paying dividends, on making other restricted payments, on creating restriction on dividend and other payments to us from certain of our subsidiaries, on incurring certain liens, on selling assets and subsidiary stock, and on merging. Pan US ABL Facility This facility contains a fixed charge coverage ratio covenant and EBITDA contribution ratio. Evaluation of compliance is only required if the excess availability falls below 10% of the aggregate revolving loan commitment. It also contains customary affirmative and negative covenants, but no maintenance covenants.

X
- Definition Text block [abstract] + References No definition available. + Details
Name: | cstm_TextBlockAbstract
Namespace Prefix: | cstm_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IAS -Number 1 -IssueDate 2018-01-01 -Paragraph 10 -Subparagraph e -URI http://eifrs.ifrs.org/eifrs/XBRL?type=IAS&num=1&date=2018-03-01&anchor=para_10_e&doctype=Standard -URIDate 2018-03-16 + Details
Name: | ifrs-full_DisclosureOfBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration