<SEC-DOCUMENT>0001193125-20-151572.txt : 20200526
<SEC-HEADER>0001193125-20-151572.hdr.sgml : 20200526
<ACCEPTANCE-DATETIME>20200526163132
ACCESSION NUMBER:		0001193125-20-151572
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200526
FILED AS OF DATE:		20200526
DATE AS OF CHANGE:		20200526

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Constellium SE
		CENTRAL INDEX KEY:			0001563411
		STANDARD INDUSTRIAL CLASSIFICATION:	SECONDARY SMELTING & REFINING OF NONFERROUS METALS [3341]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35931
		FILM NUMBER:		20911040

	BUSINESS ADDRESS:	
		STREET 1:		TUPOLEVLAAN 41-61
		CITY:			SCHIPHOL-RIJK
		STATE:			P7
		ZIP:			1119NW
		BUSINESS PHONE:		31-20-654-97-80

	MAIL ADDRESS:	
		STREET 1:		TUPOLEVLAAN 41-61
		CITY:			SCHIPHOL-RIJK
		STATE:			P7
		ZIP:			1119NW

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Constellium N.V.
		DATE OF NAME CHANGE:	20130521

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Constellium Holdco B.V.
		DATE OF NAME CHANGE:	20121130
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d936501d6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 6-K</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">6-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF
FOREIGN PRIVATE ISSUER </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT TO RULE 13a-16 OR 15d-16 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of May 2020 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-35931</FONT> </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Constellium SE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of registrant&#146;s name into English) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington
Plaza </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">40-44,</FONT> rue Washington </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>75008 Paris, France </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether
the registrant files or will file annual reports under cover of Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT STYLE="white-space:nowrap">40-F:</FONT> Form <FONT STYLE="white-space:nowrap">20-F&nbsp;&nbsp;&#9746;</FONT> Form <FONT
STYLE="white-space:nowrap">40-F&nbsp;&nbsp;&#9744;</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form
<FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1): Yes&nbsp;&nbsp;&#9744; No&nbsp;&nbsp;&#9746; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7): Yes&nbsp;&nbsp;&#9744; No&nbsp;&nbsp;&#9746; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION CONTAINED IN THIS FORM <FONT STYLE="white-space:nowrap">6-K</FONT> REPORT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>PGE French Facility </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
May&nbsp;13, 2020, Constellium International S.A.S. (the &#147;French Borrower&#148;) entered into a term facility agreement for a loan guaranteed by the French State (<I>PGE Grande Entreprise</I>) (the &#147;PGE French Facility&#148;) with BNP
Paribas as coordinator, agent and security agent and BNP Paribas, Soci&eacute;t&eacute; G&eacute;n&eacute;rale and Bpifrance Financement as original lenders. The PGE French Facility established a fully committed term loan (the &#147;Loan&#148;) that
allowed the French Borrower to borrow an aggregate amount of up to &#128;180&nbsp;million in one draw on May&nbsp;20, 2020, which the French Borrower drew on such date. The proceeds of the PGE French Facility will be used for financing the working
capital and liquidity needs of the French Borrower and its subsidiaries in France. The Loan will mature no earlier than May&nbsp;20, 2021, and the French Borrower will have an option to extend for up to five years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with French law no. <FONT STYLE="white-space:nowrap">2020-289</FONT> dated March&nbsp;23, 2020, relating ministerial order
(<I>arr&ecirc;t&eacute;</I>) dated March&nbsp;23, 2020, as may be amended from time to time, and pursuant to ministerial order (<I>arr&ecirc;t&eacute;</I>) dated May&nbsp;15, 2020 published on May&nbsp;16, 2020, 80% of the principal outstanding
amount of the Loan benefits from a guarantee of the French State. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest payable on the drawn Loan will be calculated based on the
EURIBOR plus a margin and the cost of the guarantee calculated in accordance with the Facility Agreement equal to at least 1.30% per annum for the margin and 0.50% for the guarantee during the first year of the Loan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The PGE French Facility contains financial covenants that provide that, on semi-annual testing dates: (i)&nbsp;the Leverage shall not exceed a
specified ratio, beginning at 6.5x for June&nbsp;30, 2021 and (ii)&nbsp;the Interest Cover Ratio (calculated on a twelve-month basis) is at least equal to a specified ratio, beginning at 1.75x for June&nbsp;30, 2021. &#147;Leverage&#148; means the
ratio of total net debt on the relevant testing date to the consolidated EBITDA of Constellium SE (of which the French Borrower is a consolidated subsidiary). &#147;Interest Cover Ratio&#148; means the ratio of the consolidated EBITDA of Constellium
SE to the aggregate of (x)&nbsp;the consolidated net financial interest of Constellium SE for that period and (y)&nbsp;the aggregate amount of any other financial expenses invoiced or paid by Constellium SE during that period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The PGE French Facility also contains customary terms and conditions, including, among other things, negative covenants limiting the ability
of the French Borrower, Constellium France Holdco S.A.S., Constellium Issoire S.A.S. and Constellium Neuf Brisach S.A.S. (and, as the case may be, any other French subsidiary of the French Borrower designated by the French Borrower as a material
subsidiary), <I>inter alia</I>, to incur debt, grant liens, sell assets, make acquisitions, merge, demerge, amalgamate or enter into corporate reconstruction, enter into joint-ventures, make loans and advances (including, in specific events, to
other members of the Constellium SE group of companies) and enter into certain derivative transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Borrowings under the Loan may be
repaid from time to time without premium or penalty, subject to customary &#147;breakage&#148; costs and certain mandatory prepayment events as mentioned in the PGE French Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The French Borrower&#146;s obligations under the PGE French Facility are secured by pledges of (i)&nbsp;the shares of Constellium Issoire
S.A.S. and Constellium Neuf Brisach S.A.S. owned by Constellium France Holdco S.A.S., and (ii)&nbsp;certain French bank accounts of the French Borrower, Constellium Issoire S.A.S. and Constellium Neuf Brisach S.A.S. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Swiss Facility </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&nbsp;14,
2020, Constellium Valais SA (the &#147;Swiss Borrower&#148;) entered into a term facility agreement (the &#147;Covid-19 Loan&#148;) for a loan with credit support from the Swiss Federal Government in accordance with article 3 of the Swiss ordinance
on the granting of credits and joint and several federal sureties due to the coronavirus of March&nbsp;25, 2020 (the &#147;Ordinance&#148;) with Credit Suisse (Switzerland) SA as lender (the &#147;Lender&#148;). On May&nbsp;22, 2020, the Swiss
Borrower entered into a term facility agreement (the &#147;Covid-19 Plus Loan&#148;, the Covid-19 Plus Loan together with the Covid-19 Loan the &#147;Swiss Facility&#148;) for a loan with credit support from the Swiss Federal Government in
accordance with article 4 of the Ordinance with the Lender. The Swiss Facility established term loans (the &#147;Loans&#148;) that allow the Swiss Borrower to borrow an amount of CHF 500,000 under the Covid-19 Loan and an amount up to CHF
19.5&nbsp;million under the Covid-19 Plus Loan. The proceeds of the Swiss Facility will be used to secure the liquidity needs of the Swiss Borrower. The Loans will mature on May&nbsp;21, 2025 (subject to earlier termination rights). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with the Ordinance, (i) 100% of the principal outstanding amount of the Covid-19 Loan of CHF 500,000 benefits from a guarantee
of the Swiss Federal Government (special authorized surety organizations provide sureties in favor of the Lender. The Swiss Confederation will hold such surety organizations harmless) and (ii) 85% of the principal outstanding amount of the Covid-19
Plus Loan of CHF 19.5&nbsp;million plus interest for one year. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No interest is currently payable on the Covid-19 Loan. Interest payable on the Covid-19 Plus
Loan will be equal to 1.1750% per year. The interest rate may be adjusted to the prevailing money and capital market rates. The amount of the Swiss Facility amortizes over the life of the facility reducing by CHF 2.437M starting on June 2021 and by
the same amount every six months thereafter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Swiss Facility Agreement is uncommitted and contains no financial covenants. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Swiss Facility Agreement contains customary terms and conditions, including, among other things, negative covenants set forth in the
Ordinance limiting the ability of the Swiss Borrower, <I>inter alia</I>, to use the proceeds for new long-term investments and distributions and capital repayments to shareholders, repayment of intragroup loans and transfer of liquidity to <FONT
STYLE="white-space:nowrap">non-Swiss</FONT> group companies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Swiss Borrower&#146;s obligations under the Covid-19 Plus Loan are
guaranteed by a parent company guarantee granted by Constellium International S.A.S. to the Lender up to an amount of approximately CHF 3.2M. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>European Factoring Agreements </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
April&nbsp;30, 2020, the Company extended certain of its European Factoring Agreements disclosed in the &#145;Material Agreements&#146; section of its FY 2019 Annual Report on Form <FONT STYLE="white-space:nowrap">20-F.</FONT> The German/Swiss, and
Czech Factoring Agreements were each extended to December&nbsp;31, 2023. All other terms remain the same as previously disclosed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
May&nbsp;26, 2020, the French Factoring Agreement was amended to (a)&nbsp;extend the maturity to December&nbsp;31, 2023, (b) add a 20M euro recourse tranche to the facility to increase liquidity of the facility on the same asset base and subject to
the same terms, and (c)&nbsp;change the interest rate margin to be EURIBOR plus <FONT STYLE="white-space:nowrap">0.8%-1.4%</FONT> depending on Constellium SE&#146;s credit rating. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>The information contained in this Form <FONT STYLE="white-space:nowrap">6-K</FONT> is incorporated by reference into any offering circular or
registration statement (or into any prospectus that forms a part thereof) filed by Constellium SE with the Securities and Exchange Commission. </I></B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SIGNATURE </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CONSTELLIUM SE</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(Registrant)</P></TD></TR>
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<TD VALIGN="top">May&nbsp;26, 2020</TD>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Peter R. Matt</P></TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name:</TD>
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<TD VALIGN="top">Peter R. Matt</TD></TR>
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<TD VALIGN="top">Title:</TD>
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<TD VALIGN="top">Chief Financial Officer</TD></TR>
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