Valeo announces the successful outcome of its 500 million
euro bond issue with maturity in 2017 and its offer to
repurchase 88.862 million euros' worth of notes with
maturity in 2013
Tuesday, 17 Jan 2012
Valeo announced the successful placement of 500 million
euros' worth of new bonds with maturity in 2017 and the
final result of its offer to repurchase notes with maturity
in 2013 for a principal amount of 88.862 million euros.
This bond issue enabled the placement in favorable
conditions of 500 million euros' worth of bonds with 5-year
maturity and a coupon of 5.75%.
Regarding the offer to reimburse holders of the bonds with
maturity in 2013 , launched simultaneously, Valeo confirms
the repurchase of 22.2% of the outstanding bonds, for a
principal amount of 88.862 million euros out of the
principal amount of 600 million euros issued in June 2005,
out of which 400 million were still outstanding.
These transactions will enable Valeo to lengthen and smooth
its debt maturity profile by reducing the 2013 maturity by
88.862 million euros and creating a new maturity of 2017
for 500 million euros.
Valeo is an independent industrial Group fully focused
on the design, production and sale of components,
integrated systems and modules for the automotive industry,
mainly for CO2 emissions reduction. Valeo ranks among the
world's top automotive suppliers. The Group has 125
plants, 21 research centers, 39 development centers, 10
distribution platforms and employs 67,900 people in 28