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Publications

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 2 July 2024 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 agentCrédit Industriel et Commercial
Aurel BGC
BNP Paribas
BRED Banque Populaire
CM-CIC
Crédit du Nord
GFI Securities Limited
Placement agentsHPC
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