Global law firm White & Case LLP has advised Vallourec on its offering of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) due 2022 for a nominal amount of approximately €250 million.
The bonds will bear a coupon of 4.125 percent, payable semi-annually in arrears on April 4 and October 4 each year, beginning April 4, 2018. They will be admitted to trading on the Open Market (Euronext Access) of Euronext Paris and the net proceeds will be used for Vallourec's general corporate purposes.
The underwriting syndicate was led by Crédit Agricole Corporate and Investment Bank and Natixis, as Global Coordinators and Joint Bookrunners, with BNP Paribas and Société Générale Corporate & Investment Banking as Joint Bookrunners and Banco Santander as Co-Bookrunner.
The White & Case team in Paris which advised on the transaction was led by partners Séverin Robillard and Philippe Herbelin, with support from counsel Elsa Imbernon and associate Isabelle Touré-Farah. Partner Alexandre Ippolito, with support from associate Charline Schmit, advised on tax aspects.
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