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
At December 31, 2019, the average maturity of Valeo’s debt was 4 years
| Type | Final terms at | Maturity | Outstanding amount | Coupon | Prospectus and supplements |
| Convertible bond | 16/06/2016 | June 2021 | 575mUSD | 0% | NA |
| EMTN | 08/09/2017 | Sept. 2022 | 600m€ | 0.375% | 2017 & n°1 |
| EMTN | 09/01/2017 | January 2023 | 500m€ | 0.625% | 2016 & n°1, n°2, n°3, n°4, n°5 |
| EMTN | 15/01/2014 | January 2024 | 700m€ | 3.25% | 2013 & n°1 |
| EMTN | 14/06/2018 | June 2025 | 600m€ | 1.50% | 2017 & n°1, n°2 |
| EMTN | 16/03/2016 | March 2026 | 600m€ | 1.625% | 2015 & n°1 |
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
Valeo has access to liquidity through a short-term commercial paper financing program for a maximum amount of 2.5 billion euros.
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.
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.
Stock market
Contact Individual shareholders
valeo@relations-actionnaires.com
Calling from abroad: +33 (0) 1 40 55 20 39