By Paul A. Harris
Portland, Ore., Oct. 11 – Vallourec SA announced in a Wednesday press release that it priced and upsized €400 million issue of 6 5/8% five-year senior notes (B).
The deal was upsized from €300 million.
Morgan Stanley & Co. International plc is the stabilizing manager.
Proceeds will be used to repay borrowings on the company’s committed bank lines, which will then be available for other uses.
Vallourec is a Boulogne-Billancourt, France-based provider of industrial products and services.
| Issuer: | Vallourec SA
|
| Amount: | €400 million, increased from €300 million
|
| Maturity: | 2022
|
| Securities: | Senior notes
|
| Stabilization manager: | Morgan Stanley & Co. International plc
|
| Coupon: | 6 5/8%
|
| Trade date: | Oct. 11
|
| Settlement date: | Oct. 18
|
| Distribution: | Rule 144A and Regulation S
|
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