v3.26.3
DEBT
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
DEBT NOTE 11 - DEBT
11.1 Analysis by nature
At September 30, 2026
At December
31, 2025
(in millions of U.S. dollars)
Nominal
Value in
Currency
Nominal
rate
Effective
rate
Face
Value
Debt
issuance
costs
Accrued
interest
Carrying
value
Carrying value
Secured Pan-U.S. ABL (due
2029)
$—
Floating
5.10%
—
—
1
1
—
Senior Unsecured Notes
Issued June 2020 and due 2028 (A)
$225
5.625%
6.05%
225
(1)
4
228
323
Issued February 2021 and due
2029
$500
3.750%
4.05%
500
(3)
9
506
500
Issued June 2021 and due 2029
€300
3.125%
3.41%
341
(2)
2
341
355
Issued August 2024 and due 2032
$350
6.375%
6.77%
350
(5)
3
348
353
Issued August 2024 and due 2032
€300
5.375%
5.73%
341
(5)
2
338
354
Finance lease liabilities
27
—
—
27
32
Other loans
28
—
—
28
27
Total debt
1,812
(16)
21
1,817
1,944
Of which non-current
1,778
1,905
Of which current (B)
39
39
(A)On July 28, 2026, the Company redeemed $100 million of the $325 million outstanding aggregate principal amount of its 5.625%
Senior Notes due June 2028.
(B)Current portion of debt includes 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 were
98.9%, 94.0%, 97.2% and 99.6%, respectively, of the nominal value and amounted to $223 million, $470 million, $331 million
and $689 million, respectively, at September 30, 2026, compared to $325 million, $483 million, $348 million, and $730
million, respectively, at December 31, 2025.
The €100 million French Inventory Facility remained undrawn at September 30, 2026.
The Group was in compliance with all applicable financial debt covenants at September 30, 2026 and December 31,
2025.