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COMPAGNIE DE SAINT-GOBAIN REFINANCES TWO EXISTING CREDIT FACILITIES WITH A 5-YEAR €2.0 BILLION SYNDICATED LOAN FACILITY
Compagnie de Saint-Gobain announces that the syndication of its €1.8 billion 5-year syndicated loan facility launched on October 12 has closed successfully. The transaction was well oversubscribed with €3.5 billion in bank commitments, allowing Saint-Gobain to increase the size of the facility to €2.0 billion. The facility was signed on November 17, 2004. |
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The new facility will replace the €600 million syndicated facility maturing in September 2006 and the €1.2 billion syndicated facility maturing in November 2007, and will be available for general corporate purposes including Commercial Paper backstop. The facility is expected to remain undrawn.
The syndication has been supported by a strong group of 25 international banks, underlying Saint-Gobain’s appeal in the credit markets.
ABN AMRO Bank N.V., BNP Paribas, Calyon, CCF, J.P. Morgan PLC and Société Générale Corporate and Investment Banking (“SGCIB”) were appointed as Mandated Lead Arrangers ; BNP Paribas, J.P. Morgan PLC and SGCIB acted as Joint-Bookrunners for the syndication ; Calyon acted as documentation agent and is Facility Agent for the new facility.
The following banks participated as arrangers : Bank of America NA, Paris Branch, Bank of Tokyo-Mitsubishi, Citibank, Crédit Suisse First Boston International, Mizuho Corporate Bank, Ltd., The Royal Bank of Scotland PLC, Crédit Mutuel – CIC, Fortis Banque France, ING, Mediobanca, Santander Central Hispano S.A., Paris Branch; and as co-arrangers : Banca Intesa, Banco Bilbao Vizcaya Argentaria, IXIS Corporate & Investment Bank, Commerzbank, Dresdner Bank AG Niederlassung Luxemburg, PNC Bank National Association, Skandinaviska Enskilda Banken AB (publ), UBS Limited.
November 18, 2004.
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