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15 Jan 2009 14:03
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January 14, 2009
SUCCESSFULΒ LAUNCH OF AΒ 5Β 1/2Β YEAR,Β EURΒ 1 BILLION
BOND OFFERINGΒ (annual coupon of 8.25%)
Compagnie de Saint-GobainΒ todayΒ setΒ the terms of its newΒ EUR 1 billion 5 Β½ yearΒ bond issueΒ with an annual coupon of 8.25%.
This bond issueΒ will serve to refinanceΒ existing debt andΒ will allow Saint-Gobain toΒ increase the average maturity of its debt.
TheΒ transaction underlines bond investors' confidence in the credit qualityΒ of Saint-Gobain, whose last issuance on the EuroΒ bond marketΒ took placeΒ inΒ September 2008.
Saint-Gobain'sΒ long-term senior debt is rated BBB+ by Standard & Poor'sΒ and Baa1 by Moody's.
BNP Paribas, CALYON CrΓ©dit Agricole CIB, J.P.Morgan and SociΓ©tΓ© GΓ©nΓ©rale Corporate & Investment Banking acted as lead managers for this bond issue, with BBVA, Banco Santander, Citi and Commerzbank Corporate and Markets acting as co-lead managers.
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