Saint-Gobain Extends The Maturity And Reduces The Cost Of A Euro 2.44 Billion Bank Facility

Date: 16 April 2010
Source: Saint-Gobain
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 : The final maturity of the line (currently undrawn) is extended from June 2012 to June 2013.

The current margin of this facility is reduced from 250 to 100 basis points over the Euriborrate, at Saint-Gobain’s current long-term senior debt rating of BBB by Standard & Poor’s and Baa2 by Moody's.
 
This operation underlines banks’ continued confidence in the credit quality of Saint-Gobain and allows the company to benefit from improved market conditions.
 
* Bank of America, BBVA, Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, Crédit Agricole Corporate & InvestmentBank, 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.
 
About Saint-Gobain
Saint-Gobain, worldwide leader in the habitat and construction markets, designs, manufactures anddistributes building materials. With 37.8 billion euros of sales in 2009, Saint-Gobain is present in 64countries and employs about 190,000 people.

600450 Saint-Gobain Extends The Maturity And Reduces The Cost Of A Euro 2.44 Billion Bank Facility glassonweb.com

See more news about:

Others also read

A bright future is ahead for glass, thanks to a serious focus on innovation, the environment, and sustainability, the industry’s annual prestige awards ceremony at the Millennium Gallery in Sheffield heard. (Thurs 22 November).
Let’s re-live the event highlights together.
Saint-Gobain has approved the most important operation planned in Europe, which will be carried out over the next two years.
The façade of the RAL building in Bonn unmistakeably showcases the identity of the client and user of the building.
Glassolutions’ Installation business has relaunched as Facades & Glazing Solutions UK Ltd (FGS) following its sale to private investment firm CoBe Capital.
SUPERCONTRYX - a lead glass should be an extremely important element of your medical facility’s X-ray protection strategy as it attenuates the effect of radiations significantly.

Add new comment