Aluminum Dunkerque completes its refinancing

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Posted: October 22, 2021 at 6:45 p.m. CDT|Update: 1 hour ago

LOON-PLAGE, France, 22 October 2021 / PRNewswire / – Aluminum Dunkerque Industries France SAS (formerly known as Liberty Industries France SAS) today finalized the refinancing of its senior credit agreement, comprising approximately $ 235 million of the debt financed and $ 60 million in the coverage of liabilities. All holders of this facility, which was previously in default, received a payment at par plus accrued interest.

Aluminum Dunkerque completes its refinancing

The Replacement Facility is a bond held by affiliates of American Industrial Partners Capital Fund VII, LP (“AIP”). The replacement facility has a five-year term, a reduced cash interest rate and no mandatory amortization. The replacement facility also provides significant additional working capital for the operating needs of the company and its subsidiaries.

Guillaume de Goÿs, Managing Director of Aluminum Dunkerque Industries France SAS, declared: “This refinancing by AIP is good news, because it completely stabilizes our capital structure and provides essential working capital. Among other advantages, it will allow all Alumimium Dunkerque companies to France to deliver their legal audits, if necessary. We operate in a volatile industry and therefore a stable financial structure is necessary for long term operational success. “

Amélie Hennion, Managing Director of Aluminum Dunkerque SAS, added: “This major refinancing, which AIP delivered in 22 days, as well as the social bonus confirmed to employees last week, opens a new chapter for Aluminum Dunkerque in its relations with its customers, suppliers and employees, as well as the French State.

In addition, the company announced that several entity name changes have been made:
“Liberty Industries France SAS (FR)” is now “Aluminum Dunkerque Industries France SAS (FR)”
“Alvance Aluminum Dunkerque SAS (FR)” becomes “Aluminum Dunkerque SAS (FR)”
“Alvance Aluminum Service SAS (FR)” is now “Aluminum Dunkerque Service SAS (FR)”
“Liberty France Industries 1 SA (LUX)” becomes “Aluminum Dunkerque Industries 1 SA (LUX)”
“Liberty France Industries 2 SA (LUX)” is now “Aluminum Dunkerque Industries 2 SA (LUX)”.

About Aluminum Dunkirk: Founded in 1991, Aluminum Dunkerque is the largest primary aluminum smelter in Europe, specializing in the manufacture of aluminum plates and ingots, used in the transportation, automotive, aerospace, packaging, building and construction sectors. Aluminum Dunkerque Industries France SAS (FR) is the holding company responsible for financing the activity. Aluminum Dunkerque SAS (FR) and Aluminum Dunkerque Service SAS (FR) are operating companies that own the assets, employ the workforce and deal with customers and suppliers. Aluminum Dunkerque is 100% owned by a subsidiary of American Industrial Partners Capital Fund VII, LP For more information on Aluminum Dunkerque, visit www.aluminiumdunkerque.fr

About AIP: American Industrial Partners (AIP) is an operationally oriented private equity firm that makes controlling investments in industrial companies serving national and global markets. The company is deeply rooted in the industrial economy and has been active in private equity since 1989. To date, AIP has completed more than 100 transactions and currently has more than $ 7 billion assets under management on behalf of leading institutions. Among the more than 20 companies in AIP’s portfolio is Commonwealth Rolled Products of Lewisport, Kentucky, a leader in rolled aluminum products serving the automotive and common alloy markets in the United States. For more information on AIP, visit www.americanindustrial.com.

CONTACT:
Guillaume Foucault
CORP COM
[email protected]
+33 (6) 52-11-37-65

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SOURCE American industrial partners

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