DEBT MATURITY PROFILE

At December 31, 2019, the average maturity of Valeo’s debt was 4 years

EMTN Program (bonds):

• Base prospectus dated as of 14 May 2020
• Base prospectus dated as of  15 April 2019
  
• Base prospectus EMTN program 2017 dated July 5 2017
• Prospectus Supplement n°1 dated 4 September 2017 to the base Prospectus dated 5 July 2017
• Prospectus Supplement n°2 dated 29 May 2018 to the base Prospectus dated 5 July 2017
• Base prospectus EMTN program 2016 dated 3 May 2016
• Prospectus Supplement n°1 dated 21 September 2016 to the Base Prospectus dated 3 May 2016
• Prospectus Supplement n°2 dated 26 October 2016 to the Base Prospectus dated 3 May 2016
• Prospectus Supplement n°3 dated 8 November 2016 to the Base Prospectus dated 3 May 2016
• Prospectus Supplement n°4 dated 23 November 2016 to the Base Prospectus dated 3 May 2016
• Prospectus Supplement n°5 dated 2 December 2016 to the Base Prospectus dated 3 May 2016
• Base prospectus EMTN program 2015 dated 7 May 2015
• Prospectus Supplement n°1 dated 9 March 2016 to the Base Prospectus dated 7 May 2015
• Base prospectus EMTN program 2013 dated 23 April 2013
• Supplement N°1 dated January 2014 to the Base Prospectus dated 23 April 2013

DETAIL OF SHORT-TERM FINANCING

BANK CREDIT LINES

Valeo has access to liquidity through confirmed bank credit lines with a weighted average maturity of 3.04 years as of December 31, 2019, representing an aggregate amount of 1.1 billion euros.

COMMERCIAL PAPER 

• Financial documentation dated as of June 30, 2020 (in French only)

RATING AND COVERAGE

STANDARD & POOR’S

On July 31, 2020, Standard & Poor’s has downgraded its long-term and short-term corporate credit ratings for Valeo from “BBB-/A-3” to “BB+/B”, outlook stable.

• S&P July 31, 2020

MOODY’S

On June 11, 2020, Moody’s confirmed its « Baa3/P3 » long-term and short-term ratings on Valeo, changing to “negative” its outlook on the ratings.

• Moodys June 11, 2020