5th Sep 2008 08:03
September 5, 2008
SUCCESSFUL LAUNCH OF A 5 YEAR, EUR 750 MILLION
BOND OFFERING (annual coupon of 7.25%)
Compagnie de Saint-Gobain, whose long-term senior debt is rated BBB+ by Standard & Poor's and Baa1 by Moody's, set yesterday the terms of its new benchmark bond issue denominated in Euros.
Despite challenging market conditions the issue was well received by a diversified set of quality investors, which allowed the spread to be set at the bottom of the initial price-guidance and the size of the issue to meet the issuer's target.
This transaction underlines bond investors' confidence in the credit quality of Saint-Gobain, whose last issuance on the Euro bond market took place in April 2007.
The proceeds will be used to refinance existing debt and for general corporate purposes.
BNP Paribas, Calyon, J.P. Morgan and The Royal Bank of Scotland acted as lead managers for this bond issue.
Investor Relations Department Press contact
Florence Triou-Teixera +33 1 47 62 45 19 Sophie Chevallon +33 1 47 62 30 48
Vivien Dardel +33 1 47 62 44 29
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Saint Gobain Or