Vallourec successfully prices €400 million aggregate principal amount of its senior notes due 2022

Boulogne-Billancourt(France), 11 October 2017 – Vallourec S.A. (the “Company”) todayannounced that it has priced the offering of €400,000,000 aggregate principalamount of its senior notes due 2022 at a coupon of 6.625% per annum. Theoffering was upsized from the €300,000,000 amount announced on October 9. Theissuance of the notes, which is subject to customary conditions, is expected toclose on 18 October 2017.

The net proceeds from theoffering are expected to be used to repay amounts drawn under the Company’srevolving credit facilities and certain short-term indebtedness. Amounts repaidunder the Company’s revolving credit facilities will remain available followingrepayment.


This press release is forinformation purposes only and does not constitute a prospectus or an offer tosell or the solicitation of an offer to buy any security in the United Statesof America or in any other jurisdiction. Securities may not be offered or soldin the United States of America absent registration or an exemption fromregistration under the U.S. Securities Act of 1933, as amended (the “SecuritiesAct”). The notes have not been and will not be registered under the SecuritiesAct and will be offered and sold in the United States only to qualifiedinstitutional buyers in reliance on Rule 144A under the Securities Act andoutside the United States in reliance on Regulation S under the Securities Act.

This communication isonly being distributed to and is only directed at persons who (i) are outsidethe United Kingdom, (ii) have professional experience in matters relating toinvestments (being investment professionals falling within Article 19(5) of theFinancial Services and Markets Act 2000 (Financial Promotion) Order 2005, asamended (the “Financial Promotion Order”)), (iii) fall within Article 49(2)(a)to (d) (“high net worth companies, unincorporated associations, etc.”) of theFinancial Promotion Order, or (iv) to the extent that doing so does notprejudice the lawful distribution of the offering memorandum to the foregoing,are persons to whom an invitation or inducement to engage in investmentactivity (within the meaning of section 21 of the FSMA) in connection with theissue or sale of any Notes may otherwise lawfully be communicated or caused tobe communicated (all such persons together being referred to as “relevantpersons”).


This press release mayinclude forward-looking statements. These forward-looking statements can be identifiedby the use of forward-looking terminology, including the terms as “believe”,“expect”, “anticipate”, “may”, “assume”, “plan”, “intend”, “will”, “should”,“estimate”, “risk” and or, in each case, their negative, or other variations orcomparable terminology. These forward-looking statements include all mattersthat are not historical facts and include statements regarding the Company’sintentions, beliefs or current expectations concerning, among other things, theCompany’s results of operations, financial condition, liquidity, prospects,growth, strategies and the industries in which they operate. By their nature,forward-looking statements involve risks and uncertainties because they relateto events and depend on circumstances that may or may not occur in the future.Readers are cautioned that forward-looking statements are not guarantees offuture performance and that the Company’s or any of its affiliates’ actualresults of operations, financial condition and liquidity, and the developmentof the industries in which they operate may differ materially from those madein or suggested by the forward-looking statements contained in this pressrelease. In addition, even if the Company’s or any of its affiliates’ resultsof operations, financial condition and liquidity, and the development of theindustries in which they operate are consistent with the forward-lookingstatements contained in this press release, those results or developments maynot be indicative of results or developments in subsequent periods.


Vallourec is a worldleader in premium tubular solutions for the energy markets and for demandingindustrial applications such as oil & gas wells in harsh environments, newgeneration power plants, challenging architectural projects, andhigh-performance mechanical equipment. Vallourec’s pioneering spirit andcutting edge R&D open new technological frontiers. With close to 19,000dedicated and passionate employees in more than 20 countries, Vallourec workshand-in-hand with its customers to offer more than just tubes: Vallourecdelivers innovative, safe, competitive and smart tubular solutions, to makeevery project possible.