Tender Offer

RNS Number : 5550T

Compagnie de Saint-Gobain

29 September 2010

 

*** BNP Paribas announces Acceptance and Results in respect of the Tender Offer for Notes issued by Compagnie de Saint-Gobain***

29 September 2010: On 22 September 2010, BNP Paribas (the Offeror") announced an invitation to holders of the EUR 1,000,000,000 8.25 per cent. Notes due 28 July 2014 (ISIN XS0409153110) (the "2014 Notes"), and/or the EUR 750,000,000 7.25 per cent. Notes due 16 September 2013 (ISIN XS0387435117) (the "September 2013 Notes") and/or the EUR 750,000,000 6.00 per cent. Notes due 20 May 2013 (ISIN XS0428417900) (the "May 2013 Notes") and/or and/or the EUR 1,100,000,000 4.25 per cent. Notes due 31 May 2011 (ISIN FR0010333377) (the "2011 Notes") (the "Existing Notes") issued by Compagnie de Saint-Gobain (the "Company") to offer to sell their Existing Notes for cash to the Offeror (the "Tender Offer") on the terms and subject to the conditions set out in a tender offer memorandum dated 22 September 2010 (the "Tender Offer Memorandum").  Capitalised terms used but not defined herein shall have the meanings ascribed to them in the Tender Offer Memorandum.

Following the satisfaction of the New Notes Condition, the Offeror hereby announces acceptance and results of the Tender Offer by the Offeror.

The Maximum Acceptance Amount has been set at EUR 957,154,000 and the Series Acceptance Limits have been set at EUR 314,145,000 for the 2014 Notes, at EUR 144,844,000 for the September 2013 Notes, at EUR 174,715,000 for the May 2013 Notes and at EUR 323,450,000 for the 2011 Notes. 

2014 Notes

The Aggregate principal amount of Notes tendered is EUR 314,145,000

The Acceptance Amount is EUR 314,145,000

The Interpolated Mid-Swap Rate is 1.742 per cent.

The Tender Yield is 2.592 per cent.

The Tender Price is 120.323 per cent.

The Tender Price is €1,203.23 per €1,000 in nominal amount

Accrued Interest per €1,000 in nominal amount is €14.69

Tender Consideration per €1,000 in nominal amount is €1,217.92

The Aggregate nominal amount outstanding after the Settlement Date will be EUR 685,855,000

September 2013 Notes

The Aggregate principal amount of Notes tendered is EUR 144,844,000

The Acceptance Amount is EUR 144,844,000

The Interpolated Mid-Swap Rate is 1.596 per cent.

The Tender Yield is 2.346 per cent.

The Tender Price is 113.859 per cent.

The Tender Price is €1,138.59 per €1,000 in nominal amount

Accrued Interest per €1,000 in nominal amount is €2.98

Tender Consideration per €1,000 in nominal amount is €1,141.57

The Aggregate nominal amount outstanding after the Settlement Date will be EUR 605,156,000

May 2013 Notes

The Aggregate principal amount of Notes tendered is EUR 174,715,000

The Acceptance Amount is EUR 174,715,000

The Interpolated Mid-Swap Rate is 1.541 per cent.

The Tender Yield is 2.291 per cent.

The Tender Price is 109.357 per cent.

The Tender Price is €1,093.57 per €1,000 in nominal amount

Accrued Interest per €1,000 in nominal amount is €22.03

Tender Consideration per €1,000 in nominal amount is €1,115.60

The Aggregate nominal amount outstanding after the Settlement Date will be EUR 575,285,000

2011 Notes

The Aggregate principal amount of Notes tendered is EUR 323,450,000

The Acceptance Amount is EUR 323,450,000

The Tender Price is 101.950 per cent.

The Tender Price is €50,975.00 per €50,000 in nominal amount

Accrued Interest per €50,000 in nominal amount is€716.10

Tender Consideration per €50,000 in nominal amount is €51,691.10

The Aggregate nominal amount outstanding after the Settlement Date will be 776,550,000

The Tender Offer is expected to settle on 1 October 2010 (the "Settlement Date").

Information in respect of the Tender Offer may be obtained from: the Joint Dealer Manager and Lead Structuring Adviser, BNP Paribas ([phone]); or from the Joint Dealer Manager and Structuring Adviser, JP Morgan ([phone]);or from the other Joint Dealer Managers, Citi ([phone]); HSBC ([phone]); The Royal Bank of Scotland ([phone] / 4634); Société Générale Corporate & Investment Banking ([phone]).

The Tender Offer was not made directly or indirectly into Italy or the USA. Further restrictions applied as described more fully in the Tender Offer Memorandum.

 

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