Vallourec: successful bond placement maturing in 2022.
(CercleFinance.com) - Vallourec has announced the successful placement of a bond convertible into new and existing shares maturing in 2022: due to strong demand from investors, the initial issue of 170 million euros has been increased to 250 million euros.
The unit nominal value of the bonds, which is expected to be set on 4 October, will show an issue premium of 37.5% over the reference price of the Vallourec share on the Euronext Paris regulated market.
The bonds will be issued at par and will bear interest at an annual rate of 4.125% payable semi-annually in arrears on 4 April and 4 October each year (or the next business day if these days are not working days), with the first payment made on 4 April 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The unit nominal value of the bonds, which is expected to be set on 4 October, will show an issue premium of 37.5% over the reference price of the Vallourec share on the Euronext Paris regulated market.
The bonds will be issued at par and will bear interest at an annual rate of 4.125% payable semi-annually in arrears on 4 April and 4 October each year (or the next business day if these days are not working days), with the first payment made on 4 April 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.