Global law firm White & Case LLP has successfully advised Vallourec, a leading manufacturer of premium tubular solutions, on a significant refinancing initiative. Vallourec has secured a multi-faceted refinancing structure that includes a new €550 million multi-currency revolving facility agreement underpinned by a diverse group of global lenders, demonstrating confidence in the company’s future. Additionally, the transaction encompasses the amendment and extension of its existing Asset-Based Lending (ABL) credit facility in the United States, now amounting to $350 million over a five-year term. A tangible demonstration of the capital markets’ trust in Vallourec’s prospects is the issuance of senior notes with an annual interest yield of 7.5 percent, maturing in 2032, and representing a total nominal amount of $820 million. Collectively, this refinancing secures Vallourec’s financial stability and aids in the completion of its vital balance sheet restructuring. The transaction was expertly navigated by the White & Case team, led by Saam Golshani and Hugues Racovski from Paris, who were supported by a mix of partners and associates across both the Paris and London offices, marking a concerted effort to fortify Vallourec’s financial standing in a challenging global economy.

Legal Services, Manufacturing – Specialty Materials, Financial Services,Global, France, United States

https://www.whitecase.com/news/press-release/white-case-advises-vallourec-refinancing