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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 June 30, 2019, the average maturity of Valeo’s debt was 4.1 years

Type Final terms at Maturity Outstanding amount Coupon Prospectus and supplements
Euro PP 02/11/2017 Nov 2019 €350m 0% 2017 & n°1
Convertible bond 16/06/2016 June 2021 USD 575m 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
Schuldschein NA April 2023 €336m Eurib 6M (floor) + 0.95% / 0.95% NA
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
Schuldschein NA April 2025 €212m Eurib 6M (floor) + 1.15% / 1.291% NA
EMTN 16/03/2016 March 2026 €600m 1.625% 2015 & n°1

 

Current EMTN Program (bonds):

DETAIL OF SHORT-TERM FINANCING

BANK CREDIT LINES

Valeo has access to liquidity through confirmed bank credit lines with a weighted average maturity of 3.55 years as of June 30, 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 billion euros.

 

RATING AND COVERAGE

Valeo is rated “Investment Grade” by rating agencies Moody’s and Standard & Poor’s.

STANDARD & POOR’S

On February 26, 2019, Standard & Poor’s confirmed its “BBB/A-2” long-term and short-term corporate credit ratings for Valeo and revised its outlook to negative from stable.

MOODY’S

On March 22, 2019, Moody’s has downgraded its long-term and short-term corporate credit ratings to “Baa3/P-3” from “Baa2/P-2” for Valeo, outlook  stable.

Stock market

Paris | Dec 15, 2019 at 01:55 PM (GMT +1)

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