One of the lead managers of Compagnie de Saint-Gobain said on 30 October 2006 that it has appointed Barclays Capital, HSBC and the Royal Bank of Scotland to act as joint lead managers for a new two-pa…
One of the lead managers of Compagnie de Saint-Gobain said on 30 October 2006 that it has appointed Barclays Capital, HSBC and the Royal Bank of Scotland to act as joint lead managers for a new two-part sterling-denominated bond issue . The deal, of which details regarding the use of the proceeds were not disclosed, comprises of 10-year and 18-year tranches, both with a benchmark volume. An investor conference call is to be be held late 30 October 2006, and initial price guidance on the deal will be set early on 31 October 2006. The bond is expected to price as early as 1 November 2006, depending on the bookbuilding process. The new notes will include a change of control clause and will be part of the issuer“s EUR medium term note programme. The notes will be sold in denominations of GBP 50,000 and will be listed in London. The French building materials company last tapped the primary market in May 2006 when it sold a EUR 1.8 billion two-part bond issue through lead managers BNP Paribas, Deutsche Bank, J.P. Morgan and Calyon, which comprised of a EUR 1.1 billion 2011 bond and a EUR 700 million 2016 bond. Compagnie de Saint-Gobain is rated Baa1 by Moody“s Investors Service Inc. and BBB+ by Standard & Poor“s Corp.