Saint-Gobain: launch of EUR 1 billion bond offering

Compagnie de Saint-Gobain set the terms of its new EUR 1 billion five-and-a-half year bond issue on 14 January 2009 with an annual coupon of 8.25%.
The issue will serve to refinance existing debt and…

Compagnie de Saint-Gobain set the terms of its new EUR 1 billion five-and-a-half year bond issue on 14 January 2009 with an annual coupon of 8.25%. The issue will serve to refinance existing debt and will allow Saint-Gobain to increase the average maturity of its debt. The transaction underlines bond investors“ confidence in the credit quality of Saint-Gobain, whose last issuance on the EUR bond market took place in September 2008. Saint-Gobain“s long-term senior debt is rated BBB+ by Standard & Poor“s and Baa1 by Moody“s. BNP Paribas, CALYON Crdit Agricole CIB, J.P.Morgan and Socit Gnrale 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.