on VALLOUREC (EPA:VK)
Vallourec Secures €750 Million Multicurrency Revolving Credit Facility
Vallourec, known for its premium tubular solutions, has announced a new €750 million multicurrency revolving credit facility (RCF). This facility takes the place of previous undrawn facilities: the €550 million RCF from April 2024 and the US$350 million asset-based lending facility signed in November 2022. The new structure is designed for a five-year term with potential one-year extensions.
Designed for general corporate purposes, the facility includes a €225 million accordion option, pending lender approval. The terms and costs are improved, aligning with Vallourec’s investment-grade financial strategy. Coordinated by BNP Paribas and Natixis CIB, the facility involves thirteen international banks, showcasing robust global support and confidence in Vallourec's strategic direction.
R. H.
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