Valeo issues €600 million bond due 2033 at 4.875% coupon
€600 million
4.875%
February 2033
What Happened
Valeo announced the placement of €600 million in bonds maturing February 3, 2033, with a coupon of 4.875%. The net proceeds will be used for general corporate purposes, including the potential early redemption of its outstanding €750 million bond bearing 5.375% interest due May 2027. BNP Paribas, CaixaBank, Citi, MUFG, Natixis and Société Générale acted as joint active bookrunners for the issue.
€600 millioneuros
Coupon 4.875%, maturity February 2033
- BNP Paribas
- CaixaBank
- Citi
- MUFG
- Natixis
- Société Générale
Why this matters
The bond issue allows Valeo to refinance existing debt with a lower coupon, managing its debt maturity profile and reducing interest costs.
Terms in This Story
- Coupon
- The annual interest rate paid on a bond.
- Make-whole redemption
- A provision allowing the issuer to redeem bonds early at a price that compensates bondholders for lost interest.
- Joint active bookrunners
- Investment banks that manage and sell a bond issue to investors.
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