Vallourec successfully signs a 5-year, €1bn revolving credit facility

11/02/2011 - Finance
Vallourec today announced that it has signed a multi-currency revolving credit facility for an amount of €1 billion.

Boulogne-Billancourt, 11 February 2011 – Vallourec, world leader in premium tubular solutions, today announced that it has signed a multi-currency revolving credit facility for an amount of €1 billion, maturing in February 2016.

This facility will be available for general financial purposes of the Group. It will partially refinance existing credit lines, maturing in March 2012 and April 2013, enabling the Group to maintain its financial flexibility and extend the maturity of its financial resources.

The operation was largely oversubscribed at more than €1.4bn by an international syndicate of 22 banks(*). This underlines the confidence granted to the credit quality of Vallourec. The credit facility was signed on 10 February 2011.


(*) As mandated lead arrangers and bookrunners: Banco Santander, S.A., BNP Paribas, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Banque Federative du Crédit Mutuel, HSBC France, Natixis, Société Générale Corporate & Investment Banking.

As mandated lead arrangers: Banc of America Securities Limited, The Bank of Tokyo-Mitsubishi UFJ, Ltd., ING Belgium S.A. – Succursale en France, Sumitomo Mitsui Banking Corporation Europe Limited – Paris Branch.

As lead arranger: Deutsche Bank.

As arrangers: Barclays, Citi, Crédit du Nord, Goldman Sachs, Intesa San Paolo, Itau Europa, JP Morgan, Morgan Stanley, Standard Chartered.


About Vallourec

Vallourec is a world leader in premium tubular solutions primarily serving the energy markets, as well as other industrial applications.

With over 20,000 employees, integrated manufacturing facilities, advanced R&D, and presence in more than 20 countries, Vallourec offers its customers innovative global solutions to meet the growing energy challenges of the 21st century.

Listed on NYSE Euronext in Paris (ISIN code: FR0000120354, Ticker VK) and eligible for the Deferred Settlement System, Vallourec is included in the following indices: MSCI World Index, Euronext 100 and CAC 40.

In the United States, Vallourec has a sponsored Level 1 American Depository Receipt (ADR) program (ISIN code: US92023R2094, Ticker: VLOWY). The ratio of Vallourec ADR to ordinary shares is 5:1.

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