Investors & Shareholders
Paris, June 9, 2016 – Valeo (“Valeo”) announces the successful placement today of non-dilutive cash-settled convertible bonds due 2021 (the “Bonds”) with a nominal amount of USD 450 million. As conversion rights in respect of the Bonds will only be cash-settled, the instrument will not result in the issuance of new shares or the delivery of existing shares of Valeo upon conversion. Concurrently, Valeo has purchased cash-settled call options over its own shares to hedge its exposure to pay cash amounts upon any potential exercise of conversion rights embedded in the Bonds. This USD-denominated debt will be immediately converted into euros.