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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