Valeo SA (VLEEF.PK,VLEEY.PK) reported the outcome of its 500 million euro bond issue with maturity in 2017 and the result of its offer to buy back notes worth 88.862 million euros with maturity in 2013. The company said this bond issue enabled the placement in favorable conditions of 500 million euros' worth of bonds with 5-year maturity and a coupon of 5.75%.
In connection with the offer to reimburse bond holders with maturity in 2013, Valeo confirmed the repurchase of 22.2% of the outstanding bonds, for 88.862 million euros principal amount out of 600 million euros issued in June 2005, out of which 400 million were still outstanding, thereby enabling to lengthen and smooth its debt maturity profile by reducing the 2013 maturity by 88.862 million euros and creating a new maturity of 2017 for 500 million euros.
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