Funding
Vallourec Replaces Two Undrawn Lines With €750 Million Multidevise Credit Facility
By News Desk ·
Key takeaways
- Vallourec signed a €750 million multidevise revolving credit facility with a five-year maturity and two one-year extension options.
- The facility replaces a €550 million RCF signed in April 2024 and a $350 million ABL line signed in November 2022, both undrawn.
- Thirteen international banks joined the syndicate, coordinated by BNP Paribas and Natixis Corporate & Investment Banking, against nine for the existing RCF.
Vallourec signed a €750 million multidevise revolving credit facility on November 6, 2026, coordinated by BNP Paribas and Natixis Corporate & Investment Banking. The French tubular solutions maker announced the five-year facility in a GlobeNewswire release.
Vallourec's New €750 Million Facility
The new line replaces Vallourec's existing €550 million revolving credit facility, signed in April 2024 and undrawn, and its $350 million asset-based lending line, signed in November 2022 and also undrawn. The facility carries a five-year maturity with two one-year extension options and will fund the group's general needs. It also includes a €225 million accordion option subject to lender approval.
The facility follows the Loan Market Association's "Investment Grade" model and offers more favourable terms and lower financing costs than the refinanced lines, according to the release. A syndicate of thirteen international banks backs the line, compared with nine for the existing revolving credit facility, and the operation was largely oversubscribed.
Natixis Corporate & Investment Banking, which co-coordinated the facility, agreed in October 2026 to acquire Japanese M&A specialist Sangyo Sosei Advisory, with SSA staff scheduled to join on January 1, 2027, EuropaWire reported.
Vallourec's Funding Record
Vallourec's funding records on akta.pro list three rounds, including a $667 million post-IPO secondary in May 2026, an $820 million post-IPO debt round in April 2024 and a $1 billion post-IPO secondary in March 2024 led by ArcelorMittal. The same records put total funding at $2.5 billion and annual revenue at approximately €4 billion.
| Date | Type | Amount |
|---|---|---|
| March 2024 | Post-IPO secondary | $1 billion, led by ArcelorMittal |
| April 2024 | Post-IPO debt | $820 million |
| May 2026 | Post-IPO secondary | $667 million |
Contracts Preceding the Credit Line
Vallourec won a contract from EnEarth for Greece's Prinos CO2 storage project, supplying about 3,000 tons of casing pipes and accessories, AInvest reported in September 2026. The same outlet reported in September 2026 that Vallourec won a Petrobras tubulars contract for Brazil's Sépia 2 pre-salt field, part of a multi-year framework that could generate up to $1 billion.
In October 2026, Vallourec secured a major contract from TotalEnergies to provide over 16,000 tons of tubular products, including OCTG and line pipe, for the Absheron gas field in Azerbaijan, FinancialContent Business Page reported.
Natixis CIB's Japan Acquisition Timeline
Natixis Corporate & Investment Banking's acquisition of Sangyo Sosei Advisory is scheduled to bring SSA staff on board on January 1, 2027, with Gary Chan leading the new Japan operations, according to EuropaWire.