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Last updated on May 26, 2012 at 17:19 EDT

Saint-Gobain Signs With 24 Banks

December 8, 2010
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COURBEVOIE, France, December 8, 2010 /PRNewswire-FirstCall/ — Compagnie
de Saint-Gobain today signed, with a large group of 24 banks*, a revolving
credit facility for an amount of Euro 3 billion, maturing in December 2015.

The operation was significantly oversubscribed at Euro 3.5 billion,
enabling Saint-Gobain to increase the size of the facility to Euro 3 billion
from Euro 2 billion at launch, which underlines banks’ confidence in the
credit quality of Saint-Gobain.

Reflecting improved market conditions the initial margin of this facility
is set at 75 basis points, based on Saint-Gobain’s long-term senior debt
being currently rated BBB by Standard & Poor’s and Baa2 by Moody’s.

This operation allows Saint-Gobain to replace a Euro 2 billion facility
otherwise maturing in November 2011 and to reduce from Euro 2 billion to Euro
1 billion
another credit facility maturing in June 2013. It therefore
reinforces the Group’s strong liquidity for the next 5 years.

* Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ, Barclays,
BNP Paribas, Citi, Credit Agricole Corporate & Investment Bank, Credit Mutuel
- CIC, Commerzbank, HSBC, Intesa SanPaolo, JP Morgan, Mizuho, Natixis, The
Royal Bank of Scotland, Banco Santander, Societe Generale Corporate &
Investment Banking and Unicredit are Mandated Lead Arrangers and Bookrunners.
BBVA, Danske Bank, Deutsche Bank, Goldman Sachs, ING et Nordea are Mandated
Lead Arrangers and PNC Bank is an Arranger. Credit Agricole Corporate &
Investment Bank is Agent of the Facility.

About Saint-Gobain

Located in 64 countries with over 190,000 employees, Saint-Gobain, the
world leader in the habitat and construction markets, designs, manufactures
and distributes building materials, providing innovative solutions to meet
growing demand in emerging and mature countries, for energy efficiency and
for environmental protection.

    Analyst/Investor relations

    Florence Triou-Teixeira, +33-1-47-62-45-19;
    Etienne Humbert, +33-1-47-62-30-49;
    Vivien Dardel, +33-1-47-62-44-29.

    Press relations
    Sophie Chevallon +33-1-47-62-30-48

SOURCE Saint-Gobain


Source: newswire