Bond Investors

The Group aims to maintain broad access to liquidity to meet its commitments and investment needs. The quality of debt management is recognized by the rating agencies Standard & Poor's and Moody's.

DEBT MATURITY PROFILE

As of June 30th, 2023, the average maturity of Valeo’s debt was 3 years.

Type Final terms at Maturity Outstanding amount Coupon Prospectus and supplements
EMTN 01/15/2014 January 2024 €700m 3.25% 2013 & n°1
EMTN 06/14/2018 June 2025 €600m 1.50% 2017 & n°1, n°2
EMTN 03/16/2016 March 2026 €600m 1.625% 2015 & n°1
EMTN 11/25/2022 May 2027 €750m 5.375% 2022 & n°1
EMTN (SLB) 07/30/2021 August 2028 €700m 1.00% 2021 & n°1
EMTN (Green Bond) 10/10/2023 April 2029 €600m 5.875% 2023 & n°1

 

EMTN Program (bonds):

Green and Sustainable Financing

September 2023

July 2021

DETAIL OF SHORT-TERM FINANCING

BANK CREDIT LINES

Valeo has access to liquidity through confirmed bank credit lines with a weighted average maturity of 3.3 years as of June 30th, 2023, representing an aggregate amount of 1.7 billion euros.
Valeo also negotiated bridge-to-bond credit facilities with a weighted average maturity of 0.5 year as of of June 30th, 2023, representing an aggregate amount of 650 million euros.

COMMERCIAL PAPER 

Valeo has access to liquidity through a short-term commercial paper financing program for a maximum amount of 2.5 billion euros.

CREDIT RATING 

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.

MOODY’S

On October 12, 2022, Moody’s affirmed its “Baa3/P3” long-term and short-term ratings on Valeo, changing its outlook on the ratings from “stable” to “negative”.

Stock market

Paris | Dec 2, 2023 at 22:37 (GMT +1)

€13.14