Related Issuers
by Stephen Carter
May 13, 2025 11:38 AM ET
Valeo SE (FRFP) EUR650m (from benchmark size) Reg S, bearer sr unsec notes, green bond due 05/20/31 (6y). NCL (MWC B+45bp, 3mo par call, 80% clean-up call). Ba1/BB (negative/stable). Via BNP/CA/CIC (B&D)/Helaba/ING/Mizuho jt active books. Offered under Valeo’s EUR 5.0bn EMTN Programme. List Paris. French law. CoC. Pays annual (Act/Act). Settles 05/20 (T+5). ISIN: FR001400WJR8. IPT: 5.75%-5.875%. Guidance: 5.375% (+/-12.5bp) WPIR. Final terms: EUR650m at 5.25% yield.
Priced: 5.125% at 99.371, yield 5.25%. +296.1bp vs DBR 0% 02/31. MS+286.1bp.
Did a series of fixed income investor calls 05/12. Books went subject at 12:30pm UKT 05/13. Pricing 05/13. Books in excess of EUR3.2bn at guidance. Books above EUR3.3bn (pre rec) at tight end of guidance. CA coordinated logistics. UOP: finance or refinance any Eligible Projects as defined in the Issuer’s Green and Sustainability-Linked Financing Framework. Biz: a global automotive and industrial supplier. HQ: Paris, France.
Deal Roadshow direct link: https://dealroadshow.com/e/Valeo2025 (Entry code: Valeo2025).