Luxembourg, 14 June 2024 – Metalcorp Group S.A. informs the holders of its EUR 300 million 8.5% notes due 28 June 2026 (ISIN: DE000A3KRAP3) and its EUR 69.885 million 9.0% notes due 31 December 2023 (ISIN: DE000A3LQF45) (together the “Existing Notes”) that the delivery of the New Money Notes to subscribing holders has been completed as planned. The next and final step will be to exchange all Existing Notes for new Ferralum Notes, NCO Invest I Notes and NCO Invest II Notes at the exchange ratios specified in the subscription offer/exchange offer. The exchange is carried out automatically without any action on part of existing holders and without payment of an additional issue price. The exchange has been initiated with delivery to custodian banks scheduled for 18 June 2024.
Luxembourg, 14 June 2024
Metalcorp Group S.A. Ferralum Metals Group S.à r.l.
The Management The Management
About Ferralum Metals Group:
Ferralum Metals Group S.à r.l. is a holding company having selected its investments in specialized, sustainable and profitable business sectors of the aluminum and ferrous metals industry. BAGR Berliner Aluminiumwerk GmbH, STOCKACH Aluminium GmbH, STEELCOM Steel & Commodities GmbH as well as a participation in Italiana Coke S.r.l define the group’s main assets. The group owns two secondary aluminum plants processing aluminum scrap, alloy additives and small quantities of primary aluminum into high-quality aluminum slabs. It furthermore consists of a globally active ferrous metals procurement and marketing business as well as an investment in Italiana Coke S.r.l. The groups businesses were previously owned by Metalcorp Group who sold these on 17 May 2023 to Ferralum Metals Group S.à r.l. Ferralum is currently fully owned by the management of BAGR and STEELCOM. In the course of the implementation of the bondholder resolutions, 49% of Ferralum will be acquired by the subscribing bondholders through Bond HoldCo.
About Metalcorp Group:
Following the sale of BAGR Non-Ferrous Group GmbH to Ferralum Metals Group S.A., Metalcorp kept the Metals & Concentrates subgroup, which comprised the bauxite mines in Guinea and the trading company trading company Tennant Metals. As a result of the division of the Group and in light of the bond restructurings, Metalcorp has changed its business model to the effect that instead of ongoing income from operating business, income shall solely be derived from the sale of assets or earn-out agreements in relation to the existing subsidiaries. As a consequence, all the material assets of Metalcorp have been sold in the meantime and a portion of the sale proceeds and earn-out proceeds, if any, will be distributed to the bondholders under the NCO Invest bonds.