Valeo launches new bond issue due 2033 to refinance existing 750 million euro bonds
Valeo announced the launch of a benchmark-sized bond maturing in February 2033 to finance general corporate purposes and potentially redeem its outstanding 750 million euro bonds due May 2027.
- 750 million euros
- 5.375%
- February 2033
What Happened
Valeo, the automotive technology company, today announced the launch of a new bond issue maturing in February 2033. The proceeds will be used for general corporate purposes and to potentially exercise a make-whole redemption on all or part of its outstanding bonds maturing in May 2027, which carry a 5.375% coupon and have a nominal value of 750 million euros. The final terms of the new bond issue will be announced at closing.
750 million eurosEUR
Bonds maturing in May 2027 with 5.375% coupon.
Valeo launches new bond issue due February 2033
Potential exercise of make-whole redemption on existing bonds
Why this matters
This refinancing allows Valeo to manage its debt maturity profile and secure long-term funding for its operations and growth plans.
Terms in This Story
- Make-whole redemption
- A provision that allows the issuer to redeem bonds early at a price that compensates bondholders for lost interest.
- Benchmark amount
- A bond issue size that is large enough to be considered a benchmark for pricing and trading activity.
Summarised from the linked release; details can be imperfect — always verify against the original source.