Vallourec to redeem €1.02 billion 8˝% senior notes due 2026

By Mary-Katherine Stinson

Lexington, Ky., April 16 – Vallourec SA will redeem €1,023,400,000 principal amount of its 8˝% senior notes due 2026 using proceeds from an $820 million offering of senior notes due 2032, along with cash on hand, according to a press release.

Accrued interest will also be paid.

Proceeds from the offering will also be used to repay about €68 million outstanding under the company’s existing state-guaranteed loans plus accrued interest in addition to the fees and expenses incurred through the transactions.

Vallourec is a Boulogne-Billancourt, France-based provider of industrial products and services.

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