XML 33 R18.htm IDEA: XBRL DOCUMENT v3.25.1
DEBT
 3 Months Ended
Mar. 31, 2025
Debt Disclosure [Abstract]  
DEBT
NOTE 11 - DEBT
11.1 Analysis by nature
At March 31, 2025At December 31, 2024
(in millions of U.S. dollar)Nominal Value in CurrencyNominal rateEffective rateFace ValueDebt issuance costsAccrued interestCarrying valueCarrying value
Secured Pan-U.S. ABL (due 2029) $60 Floating5.57 %60——6056
Senior Unsecured Notes ————
Issued June 2020 and due 2028$325 5.625 %6.05 %325(3)5327323
Issued February 2021 and due 2029$500 3.750 %4.05 %500(5)9504500
Issued June 2021 and due 2029€300 3.125 %3.41 %324(3)2323313
Issued August 2024 and due 2032$350 6.375 %6.77 %350(6)3347353
Issued August 2024 and due 2032€300 5.375 %5.73 %324(5)3322313
Finance lease liabilities 30——3030
Other loans (A)30——3030
Total debt 1,943(22)221,9431,918
Of which non-current 1,9081,879
Of which current (B)3539
(A)Other loans include $24 million of financial liabilities relating to the sale and leaseback of assets that were considered to be financing arrangements in substance.
(B)Current portion of borrowings include mainly accrued interest and current portions of finance leases and other long-term loans relating to the sale and leaseback of assets.

The fair values of Constellium SE Senior Notes issued in June 2020, February 2021, June 2021 and August 2024 was 97.4%, 90.6%, 93.6% and 98.2% respectively of the nominal value and amounted to $317 million, $453 million, $303 million and $662 million, respectively, at March 31, 2025, compared to $319 million, $453 million, $297 million, and $658 million, respectively, at December 31, 2024.
The €100 million French Inventory Facility was amended in February 2025 to extend its maturity until December 2027 and was undrawn at March 31, 2025.
The Group was in compliance with all applicable financial debt covenants at March 31, 2025 and December 31, 2024.