Vallourec: successful bond issue

(CercleFinance.com) - Late on Thursday Vallourec announced that it has successfully placed a bond issue for a total of 400 million euros, due in 2023, with an annual coupon of 6.
375%.

The size of the issue has been increased relative to the 300 million euros that were originally announced on Monday. The bonds are set for settlement-delivery on 19 April 2018, and the deal is subject to the usual legal conditions.

The proceeds from this issue will contribute, with available cash, to the refinancing of outstanding Vallourec bonds maturing in August 2019, repaying them on their due date, as well as the payment of certain fees and costs. In the meantime, Vallourec will keep these proceeds on its general treasury account and reduce existing and future short-term borrowings.



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