Vallourec Announces Required Consents Received in its Consent Solicitation Relating to Certain of its Notes

Boulogne-Billancourt (France), 21 September 2020 a?? As announced on 1 September 2020, Vallourec launched a consent solicitation on 2 September 2020 seeking the consent of the holders of its US law governed bonds due in 2022 (Code: XS1700480160) and in 2023 (Code: XS1807435026). The purpose of this consent solicitation was to obtain the consent, with the required majority of each series of such bonds, to effect certain waivers in order to permit Vallourec, if it wishes to do so, to request the appointment of a mandataire ad hoc without such action constituting an event of default under the indentures governing such bonds.Vallourec announces today that on 18 September 2020 it has received the requisite consents under each series of bonds and that it intends to request, as soon as practicable, the appointment of a mandataire ad hoc.Vallourec has also obtained the authorizations from its banks in accordance with the terms of the relevant revolving credit agreements, to engage discussions with respect to its financial restructuring.About VallourecVallourec is a world leader in premium tubular solutions for the energy markets and for demanding industrial applications such as oil & gas wells in harsh environments, new generation power plants, challenging architectural projects, and high-performance mechanical equipment. Valloureca??s pioneering spirit and cutting edge R&D open new technological frontiers. With close to 19,000 dedicated and passionate employees in more than 20 countries, Vallourec works hand-in-hand with its customers to offer more than just tubes: Vallourec delivers innovative, safe, competitive and smart tubular solutions, to make every project possible.A 
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