Vallourec launched a rights issue to raise about 300 million euros ($365.9 million) to partially repay claims to creditors under the various revolving credit facilities and bonds.
The French manufacturing company said Thursday it will issue 52,954,807 new shares at 5.66 euros per share as the last stage of its financial restructuring, but leave Apollo and Strategic Value Partners, creditors of the firm, as the largest shareholders.
Di Vallourec si parla spesso anche nella discussione "High Yield".