Saint-Gobain Desjonqueres looks at financing options

Shareholders of French container glass manufacturer Saint-Gobain Desjonqueres (SGD) have tasked investment bank Lazard to explore different options for easing the company“s financing, according to so…

Shareholders of French container glass manufacturer Saint-Gobain Desjonqueres (SGD) have tasked investment bank Lazard to explore different options for easing the company“s financing, according to sources close to the deal. Talks have yet to start with the nine creditor banks, among which are Royal Bank of Scotland, UBS, BNP Paribas, CIC and Mizuho. SGD, however, might need additional equity capital or debt rescheduling. Investment funds Sagard and Cognetas bought SCG through a leveraged buyout (LBO) at the beginning of 2007 and hold 40% of its shares each, the remaining 20% being owned by building materials group Saint-Gobain. The deal amounted to EUR 670 million, of which EUR 490 million was financed through debt.