undrawn bank facilities

RNS Number : 7966V

Compagnie de Saint-Gobain

17 December 2013

 



December 17, 2013

Saint-Gobain extends the maturity and reduces the cost

of its Euro 4 billion undrawn bank facilities

Compagnie de Saint-Gobain signed today, with a group of 26 banks*, an undrawn revolving credit facility for an amount of Euro 2.5 billion, maturing in December 2018, with two options for an additional one-year extension each.

The facility was significantly oversubscribed with bank commitments reaching in excess of Euro 3.6 billion, which underlines banks' confidence in the credit quality of Saint-Gobain.

It replaces a facility of an equivalent amount which was due to mature in 2015.

At the same time Compagnie de Saint-Gobain obtained the agreement from 27 banks* to extend the maturity - from December 2017 until December 2018 - and reduce the cost of another Euro 1.5 billion undrawn revolving credit facility.

The initial margin for both facilities is set at 50 basis points, based on Saint-Gobain's long-term senior debt being currently rated BBB by Standard & Poor's and Baa2 by Moody's.

These operations confirm the Group's financial strength.

* Banks participating in at least one of the facilities are listed below :

Banco Santander, Bank of Tokyo-Mitsubishi UFJ, Barclays, BBVA, BNP Paribas, Citi, Commerzbank, Crédit Agricole Corporate and Investment Bank, Crédit Mutuel - CIC, HSBC, Intesa Sanpaolo, JP Morgan, Mizuho, Natixis, Royal Bank of Scotland, Société Générale Corporate and Investment Banking and Unicredit are Mandated Lead Arrangers and Bookrunners. ANZ, Bank of America Merrill Lynch, Credit Suisse, Danske Bank, Deutsche Bank, Goldman Sachs, ICBC, ING, La Banque Postale, Lloyds, Morgan Stanley, Nordea, SMBC, Standard Chartered Bank and Toronto Dominion are Mandated Lead Arrangers. Crédit Agricole Corporate and Investment Bank is Facility Agent for both facilities.

More about Saint-Gobain

Saint-Gobain, the world leader in the habitat and construction markets, designs, manufactures and distributes building materials, providing innovative solutions to the challenges of growth, energy efficiency and environmental protection. With 2012 sales of €43.2 billion, Saint-Gobain operates in 64 countries and has nearly 193,000 employees. For more information about Saint-Gobain, please visit www.saint-gobain.com.

Analyst/Investor relations	Media relations
Gaetano TERRASINI          [phone] Vivien DARDEL                  [phone] Alexandra BAUBIGEAT       [phone]	Sophie CHEVALLON     [phone] Susanne TRABITZSCH [phone]

 

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