Vallourec secures new revolving credit facility

Vallourec has signed a new EUR 750 mln (USD 837 mln) multicurrency revolving credit facility, replacing two existing undrawn credit facilities and strengthening its financing structure.

The new facility has a five-year term, with two one-year extension options, and will support general corporate purposes. It also includes a EUR 225 mln (USD 251 mln)accordion option, subject to lenders' approval.

The facility replaces Vallourec's undrawn EUR 550 mln (USD 614 mln) revolving credit facility signed in April 2024 and an undrawn USD 350 mln (USD 391 mln) asset-based lending facility signed in November 2022.

The company said the new agreement offers improved terms and lower financing costs compared with the facilities it replaces.

The transaction was coordinated by BNP Paribas and Natixis CIB and involved 13 international banks, compared with nine lenders under the previous revolving credit facility. Vallourec said the transaction was substantially oversubscribed.

Vallourec is a global producer of premium seamless tubular products for the energy and industrial sectors, operating in more than 20 countries.

1 USD / 0.89 EUR