Group Financing
Publications
April, 18th 2024 - Press release
Senior Notes Pricing
Vallourec progresses its holistic balance sheet refinancing with successful pricing of its 2032 Senior Notes offering
Credit rating
| Agency | Short-term | Long-term | Outlook | Review date |
| Standard & Poor’s | B | BB+ | Stable | April 16th, 2024 |
| Moody's | Ba2 | Positive | April 18th, 2024 | |
| Fitch | BB+ | Positive | April 18th, 2024 |
Financing
Bond
$820 million debt issue
| Annual Coupon | 7,5% |
| Maturity | 2032 |
| Non-call period | 3 years |
Commercial Paper
On 12 October 2011, Vallourec implemented a commercial paper program to satisfy its short-term needs.
This program was updated on 20 June 2023 and its main characteristics are as follows:
| Maximum limit of the program | €1 billion |
| Term | > 1 day |
| < 365 days | |
| Minimum unit amount | €150,000 |
| Paying agent | Crédit Industriel et Commercial |
| Aurel BGC | |
| BNP Paribas | |
| BRED Banque Populaire | |
| CM-CIC | |
| Crédit du Nord | |
| GFI Securities Limited | |
| Placement agents | HPC |
| ING Bank NV | |
| Kepler Capital Markets | |
| Natixis | |
| Société Générale CIB | |
| TSAF OTC | |
| Short-term credit rating (Standard & Poor’s) | B |
State-Guaranteed Loan
€262 million State-Guaranteed Loan (PGE)
| Amount repaid on 26 April 2024 | €67,600,000 |
| Maturity | June 30, 2027 |
Liquidity
€550 million committed Revolving syndicated Credit Facility
| Amount | €550,000,000 |
| Maturity | April 23, 2029 |
$350 million committed Asset-Based Revolving Credit Agreement
| Amount | $350,000,000 |
| Maturity | April 23, 2029 |
