Vallourec, a company in tubular solutions, signed a new €750 million multicurrency revolving credit facility (RCF). The new facility replaces both the existing undrawn €550 million RCF, signed in April 2024, and the undrawn $350 million asset-based lending (ABL) facility signed in November 2022.
The new RCF has a five-year term, with two one-year extension options, and will support general corporate purposes. It also includes a €225 million accordion option, subject to lenders’ approval. The new facility is based on the Investment Grade Loan Market Association template, with improved terms and lower financing costs compared to the refinanced facilities, marking a significant evolution in the group’s financing structure.
Coordinated by BNP Paribas and Natixis CIB, the facility brings together a diversified pool of 13 international banks, compared with nine in the existing RCF.
