SAINT-GOBAIN SIGNS WITH 24 BANKS A EURO 3 BILLION
December 08 2010 - 12:13PM
UK Regulatory
TIDMCOD
RNS Number : 6307X
Compagnie de Saint-Gobain
08 December 2010
December 8, 2010
SAINT-GOBAIN SIGNS WITH 24 BANKS
A EURO 3 BILLION CREDIT FACILITY WITH A 5
YEAR MATURITY
Compagnie de Saint-Gobain today signed, with a large group of 24 banks*, a
revolving credit facility for an amount of Euro 3 billion, maturing in December
2015.
The operation was significantly oversubscribed at Euro 3.5 billion, enabling
Saint-Gobain to increase the size of the facility to Euro 3 billion from Euro 2
billion at launch, which underlines banks' confidence in the credit quality of
Saint-Gobain.
Reflecting improved market conditions the initial margin of this facility is set
at 75 basis points, based on Saint-Gobain's long-term senior debt being
currently rated BBB by Standard & Poor's and Baa2 by Moody's.
This operation allows Saint-Gobain to replace a Euro 2 billion facility
otherwise maturing in November 2011 and to reduce from Euro 2 billion to Euro 1
billion another credit facility maturing in June 2013. It therefore reinforces
the Group's strong liquidity for the next 5 years.
* Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP
Paribas, Citi, Crédit Agricole Corporate & Investment Bank, Crédit Mutuel - CIC,
Commerzbank, HSBC, Intesa SanPaolo, JP Morgan, Mizuho, Natixis, The Royal Bank
of Scotland, Banco Santander, Société Générale Corporate & Investment Banking
and Unicredit are Mandated Lead Arrangers and Bookrunners. BBVA, Danske Bank,
Deutsche Bank, Goldman Sachs, ING et Nordea are Mandated Lead Arrangers and PNC
Bank is an Arranger. Crédit Agricole Corporate & Investment Bank is Agent of the
Facility.
About Saint-Gobain
Located in 64 countries with over 190,000 employees, Saint-Gobain, the world
leader in the habitat and construction markets, designs, manufactures and
distributes building materials, providing innovative solutions to meet growing
demand in emerging and mature countries, for energy efficiency and for
environmental protection.
+-------------------------------------+-------------------------------+
| Analyst/Investor relations | Press |
| | relations |
+-------------------------------------+-------------------------------+
| | |
| Florence Triou-Teixeira +33 | Sophie Chevallon +33 1 |
| 1 47 62 45 19 | 47 62 30 48 |
| Etienne Humbert | |
| +33 1 47 62 30 49 | |
| Vivien Dardel | |
| +33 1 47 62 44 29 | |
| | |
+-------------------------------------+-------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCUGGGGPUPUGMR
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Oct 2024 to Nov 2024
Compagnie De Saint-gobain (LSE:COD)
Historical Stock Chart
From Nov 2023 to Nov 2024