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.