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On 31 July 2024, Saint-Gobain priced a double tranche bond issue totaling EUR 1.5 billion, consisting of EUR 800 million with a 5-year maturity at a 3.25% coupon and EUR 700 million with a 12-year maturity at a 3.625% coupon. The issue was approximately 3 times oversubscribed by over 200 investors.
| Date | 31 Jul 2024 |
| Time | 18:07:46 |
| Category | Capital structure |
| ID | 6739Y |
SAINT-GOBAIN has SUCCESSFULLY PRICED A DOUBLE TRANCHE
EUR 1.5 BILLION BOND ISSUE CONSISTING OF:
· EUR 800 million with a 5-year maturity and a 3.25% coupon
· EUR 700 million with a 12-year maturity and a 3.625% coupon
With this transaction Saint-Gobain has taken advantage of favorable market conditions to anticipate its upcoming refinancing needs, while increasing the average maturity of its debt at optimized financing conditions.
The bonds were about 3 times oversubscribed with over 200 investors demonstrating confidence in the Group's credit quality.
Saint-Gobain's long-term senior debt is rated BBB+ (stable outlook) by Standard & Poor's and Baa1 (stable outlook) by Moody's.
BofA Securities and CIC Market Solutions acted as global coordinators and bookrunners, while Commerzbank, Goldman Sachs Bank Europe SE, Morgan Stanley, RBC Capital Markets, SMBC and UniCredit also acted as bookrunners on this bond issue.
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