VALEO (EPA:FR) 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
Transparency directive : regulatory news
17/01/2012 18:34
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Press release12.04
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
Paris, January 17, 2011 - 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(1),
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 countries worldwide.
For all additional information, please contact :
Media relations
Phone: +33 1.40.55.21.75/ +33 1 40 55 37 18
For more information about the Group and its activities, please visit our web
site www.valeo.com
(1) Bonds issued as Series N°1 under its Euro Medium Term Notes (EMTN) program
for a principal amount of 600 million euros with an interest rate of 3.75% and
a maturity date of June 24, 2013 (ISIN FR0010206334).
www.valeo.com
source : webdisclosure.com
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