Vallourec in Negotiation of New €400 Million Club Deal Financing

September 21, 2015

Cleary Gottlieb assisted Vallourec in connection with the negotiation and implementation of a new €400 million club deal revolving credit facility agreement, signed on September 21, 2015.

The new €400 million credit agreement has been entered into with BNP Paribas, Crédit Agricole, Natixis and Société Générale as Mandated Lead Arrangers and Bookrunners and Natixis as Agent.

This new facility, which will mature in July 2019 and comprises a one-year extension option, will be available for general financing purposes of the Group. It replaces four undrawn bilateral lines maturing in July 2017 granted to Vallourec Tubes of €100 million each.

Vallourec is the world leader in premium tubular solutions primarily serving the energy markets (oil and gas, powergen).