16 Apr 2010 09:07

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April 15, 2010
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SAINT-GOBAIN EXTENDS THE MATURITY AND REDUCES THE COST OF A EURO 2.44 BILLION BANK FACILITY
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23 banks* participating in the revolving credit facility signed in June 2009 have today agreed to an amendment proposed by Saint-Gobain which introduces the following main changes :
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The final maturity of the line (currently undrawn) is extended from June 2012 to June 2013.
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The current margin of this facility is reduced from 250 to 100 basis points over the Euribor rate, at Saint-Gobain's current long-term senior debt rating of BBB by Standard & Poor's and Baa2 by Moody's.
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This operation underlines banks' continued confidence in the credit quality of Saint-Gobain and allows the company to benefit from improved market conditions.
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* Bank of America, BBVA, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Crédit Agricole Corporate & Investment Bank, Citi, Crédit Mutuel - CIC, Deutsche Bank, JP Morgan, Mediobanca, Natixis, The Royal Bank of Scotland, Banco Santander, Société Générale Corporate & Investment Banking and UBS are bookrunners. Barclays, Commerzbank, HSBC, ING, Intesa SanPaolo, La Caixa and Nordea are mandated lead arrangers and Danske Bank is arranger. Crédit Agricole Corporate & Investment Bank is agent of the facility.
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About Saint-Gobain
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Saint-Gobain, worldwide leader in the habitat and construction markets, designs, manufactures and distributes building materials. With 37.8 billion euros of sales in 2009, Saint-Gobain is present in 64 countries and employs about 190,000 people.
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