Vallourec: boasts solid cash
(CercleFinance.com) - Vallourec boasts solid cash, stating that on 30 September 2018 it had 769 million euros in cash and 2.
2 billion of confirmed and undrawn medium and long-term credit lines.
On the same date, the group's net debt amounted to 2.097 billion euros, with its restated gearing, according to the definition of bank contracts ("Bank Covenant") was estimated at 71%, far from the ceiling set at 100%.
Regarding its outlook, the manufacturer of seamless tubes adds that, based on its targets and current macroeconomic and market trends, it would respect its banking covenant at the end of 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
2 billion of confirmed and undrawn medium and long-term credit lines.
On the same date, the group's net debt amounted to 2.097 billion euros, with its restated gearing, according to the definition of bank contracts ("Bank Covenant") was estimated at 71%, far from the ceiling set at 100%.
Regarding its outlook, the manufacturer of seamless tubes adds that, based on its targets and current macroeconomic and market trends, it would respect its banking covenant at the end of 2019.
Copyright (c) 2018 CercleFinance.com. All rights reserved.