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Vallourec: continues negotiations with its creditors

( - The company has said that it is continuing talks, including its reference shareholders and banks, with a view to defining a new refinancing schedule.

"Following such discussions, the company contemplates extending the dialogue to all of its banks and bondholders creditors and other stakeholders, with a view to achieving a financial restructuring that embraces all of the borrowings at the level of Vallourec S.A. and allows it to address its upcoming maturities and rebalance its financial structure, taking into account the consequences of the Covid-19 and oil markets crises on its activity," Vallourec said.

It will seek an agreement with its banks, in accordance with its renewable loans, to engage in these discussions.

The company wants to give itself the opportunity to request an ad hoc mandataire.

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