Compagnie de Saint-Gobain today set the terms of an 8 year bond issue for an amount of EUR 750 million with an annual coupon of 1%.
Saint-Gobain took advantage of the favourable conditions on the credit market to lengthen the average maturity of its debt and optimise its average cost of funding. The orderbook totalled more than EUR 2.5 billion from over 180 investors, which underlines bond investors’ confidence in the credit quality of Saint-Gobain. Saint-Gobain’s long-term senior debt is rated BBB by Standard & Poor’s and Baa2 by Moody’s. Citi, Commerzbank, MUFG, NatWest Markets, Santander GCB and UniCredit acted as lead managers for this bond issue.