Saint Gobain: Successfull Launch Of A Dual-Tranche Eur 2.5 Billion Bond Offering

Date: 29 March 2007
Source: Saint Gobain

Date: 29 March 2007

- A EUR 1,250 Mn tranche, 5-year maturity, floating rate Quarterly coupon of Euribor 3-months + 25bp - A EUR 1,250 Mn tranche, 10-year maturity, fixed rate Annual coupon of 4.75%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.





The dual-tranche issue was particularly well received by investors. Due to the volume and quality of investor demand (orderbook over EUR 6 Bn), the respective spreads at launch were set at the bottom of the initial price-guidance (respectively 28bp and 50bp over mid-swap rate on the 5 and 10 year tranche), and the final size of the bond issue was increased from initial €1.5Bn to €2.5Bn. This transaction underlines bond investors’ confidence in the credit quality of Saint-Gobain, whose last issuance on the Euro bond market was in May 2006.



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