Global law firm White & Case LLP has advised Vallourec, a world leader in premium tubular solutions, on its refinancing.
The transaction includes a new five-year €550 million multi-currency revolving facility agreement with a diversified global group of lenders, the amendment of its ABL credit agreement in the US for an amount increased to US$350 million and extended over five years, and the issue of senior notes bearing annual interest at 7.5 percent and maturing in 2032 for a total nominal amount of US$820 million.
The refinancing transaction will enable Vallourec to finalize the restructuring of its balance sheet.
The White & Case team which advised on the transaction was led by partners Saam Golshani and Hugues Racovski (both Paris) and included partners Denise Diallo, Séverin Robillard (both Paris) and James Greene (London) and associates Louis Gibon, Gaétan de la Raudière, Anaïs Eudes, Marie Jarrety, Rafael Galvez and Quentin Pipieri (all Paris).
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