Valeo Plans EUR500 Million Five-Year Bond, To Buy Back 2013 Bond
09 Janvier 2012 - 12:09PM
Dow Jones News
French car parts maker Valeo SA (FR.FR) is planning a EUR500
million, five-year bond, one of the banks running the deal said
Monday.
Pending initial price guidance, one of the banks said the deal
would price in the 6% area.
At the same time, the company is offering to buy back its EUR600
million bond maturing June 24, 2013, of which EUR400 million is
outstanding. The amount to be purchased will be determined by the
company at the expiry of the offer on Jan. 16.
The purchase price will be 130 basis points over the midswaps
curve on Jan. 17, one of the banks managing the offer said.
BNP Paribas SA, Credit Agricole SA, Mitsubishi UFJ Financial
Group, Societe Generale SA and Citigroup Inc. are bookrunners on
the five-year deal and managers of the buyback offer.
-By Serena Ruffoni, Dow Jones Newswires; +44 (0) 207 842 9349;
serena.ruffoni@dowjones.com
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