Saint-Gobain has succesfully completed the sale of a two-part EUR 2.5 billion (USD 3.32 billion) bond, having received orders worth more than EUR 6 billion, the French building materials supplier said…
Saint-Gobain has succesfully completed the sale of a two-part EUR 2.5 billion (USD 3.32 billion) bond, having received orders worth more than EUR 6 billion, the French building materials supplier said on 28 March 2007. A banker familiar with the issue said on 27 March 2007 that the bond was meant to refinance debt and for general corporate purposes. Saint-Gobain said it sold a five-year, EUR 1.25 billion floating-rate note (FRN) yielding 28 basis points over Euribor and a EUR 1.25 billion 10-year fixed-rate bond yielding 50 basis points. ABN AMRO, Citigroup, Dresdner Kleinwort and SG CIB were joint lead managers.