Vallourec signed a multi-currency revolving credit facility for an amount of EUR 1.1B, maturing in February 2019, plus two one-year extension options. This facility will be available for general financing purposes of the group. It replaces the existing EUR 1B credit line maturing in February 2016, enabling the group to increase its financial flexibility and to extend the maturity of its financial resources.
The transaction was substantially oversubscribed by an international syndicate of 19 banks. The mandated lead arrangers and bookrunners include Banco Santander, The Bank of Tokyo-Mitsubishi UFJ, Banque Fédérative du Crédit Mutuel (Groupe Crédit Mutuel- CIC), BNP Paribas, Commerzbank Aktiengesellschaft, Crédit Agricole Corporate and Investment Bank, Société Générale Corporate & Investment Banking and Sumitomo Mitsui Banking Corporation Europe Limited. The mandated lead arrangers are Bank of America Merrill Lynch, Barclays Bank Plc, Citi, Deutsche Bank, HSBC France and Standard Chartered Bank. The arrangers are Crédit du Nord, ICBC, Intesa San Paolo, Itau BBA International and JPMorgan.
