France-based steel pipe and tube maker Vallourec SA (VK.FR) is planning a benchmark-size, euro-denominated bond, maturing Feb. 2017, with initial price guidance in the area of 250 basis points over midswaps, one of the banks running the deal said Wednesday.

BNP Paribas SA, Credit Agricole SA, JPMorgan Chase & Co., Natixis and Societe Generale SA are the lead managers on the sale.

Vallourec had met with investors across Europe in November ahead of the potential bond sale.

The issuer is rated BBB+ by Standard & Poor's Corp.

-By Ben Edwards, Dow Jones Newswires; 44-20-7842-9287; ben.edwards@dowjones.com

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