Issue of Debt (6925O)
September 21 2011 - 11:04AM
UK Regulatory
TIDMCOD
RNS Number : 6925O
Compagnie de Saint-Gobain
21 September 2011
September 21, 2011
SUCCESSFUL LAUNCH OF A DUAL-TRANCHE BOND OFFERING:
EUR 1000 million, 4 year maturity, annual coupon of 3.50%
EUR 750 million, 8 year maturity, annual coupon of 4.50%
Compagnie de Saint-Gobain today set the terms of a dual-tranche
bond issue for a total amount of EUR 1.75 billion with an average
maturity of around 6 years and an average annual coupon of around
4%.
The strong demand generated by this operation (with an orderbook
for the two tranches of over EUR 7 billion from close to 400
investors) enabled Saint-Gobain to complete the issue within a
short time with a higher size and an improved pricing compared to
the initial targets.
This bond issue, which will mainly serve to refinance existing
debt, enables Saint-Gobain to both lengthen the average maturity of
its debt and optimize its average cost of funding.
The transaction underlines bond investors' confidence in the
credit quality of Saint-Gobain, whose last offering on the euro
bond market took place in September 2010.
Saint-Gobain's long-term senior debt is rated BBB by Standard
& Poor's and Baa2 by Moody's.
Credit Agricole Corporate & Investment Banking,J.P.Morgan,
The Royal Bank of Scotland and Societe Generale Corporate &
Investment Banking acted as lead managers for this bond issue.
Located in 64 countries with nearly 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 for energy
efficiency and for environmental protection.
Analyst/Investor relations Press relations
------------------------------------------ ---------------------------------
Florence TRIOU-TEIXERA +33 1 47 62 Sophie CHEVALLON +33 1 47 62 30
45 19 48
Etienne HUMBERT +33 1 47 62 30 49
Vivien DARDEL +33 1 47 62 44 29
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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