REG - Compagnie St-Gobain - Issue of Debt

Compagnie de Saint Gobain SAAnnouncement

26/03/2024 18:15

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RNS Number : 4090I  Compagnie de Saint-Gobain  26 March 2024

 

 

SAINT-GOBAIN HAS SUCCESSFULLY PRICED

ITS FIRST GREEN BOND

WITH A DOUBLE TRANCHE ISSUE:

 

·   EUR 1 billion with a 6-year maturity and a 3.375% coupon

·   EUR 1 billion with a 10-year maturity and a 3.625% coupon

 

 

Sustainable growth is at the heart of Saint-Gobain's strategy as the worldwide
leader in light and sustainable construction. It is also illustrated in its
financing: after a Sustainability Linked Bond in August 2022 and the renewal
in December 2023 of its backup revolving credit facility as a Sustainability
Linked Loan, Saint-Gobain today priced a double Green Bond whose proceeds will
be used to finance projects aligned with the European taxonomy. This is a
first for the Group, in line with its positioning and its sustainable
commitments.

 

With this transaction Saint-Gobain also took advantage of favorable market
conditions to extend the average maturity of its debt, while optimizing its
financing costs.

 

The bonds were about 3 times oversubscribed with close to 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.

 

Sreedhar N., Chief Financial Officer of Saint-Gobain, commented:

"As the worldwide leader in light and sustainable construction, sustainable
growth is at the heart of Saint-Gobain's business model and central to its
"Grow & Impact" strategy. The Group is both reducing its own carbon
footprint and at the forefront of decarbonizing the construction sector with
its low-carbon commercial offers aimed at maximizing the positive impact for
its customers. In line with this ambition, I am delighted to announce the
issuance of our first Green Bond today, reinforcing our commitment to further
invest in sustainable construction."

 

BNP Paribas (sole structuring advisor of the Green Bond) and HSBC acted as
global coordinators and bookrunners, while Crédit Agricole CIB, ING, Intesa
Sanpaolo S.p.A., Santander, Société Générale and Standard Chartered Bank,
also acted as bookrunners on this bond issue.

 

About Saint-Gobain
Worldwide leader in light and sustainable construction, Saint-Gobain designs, manufactures and distributes materials and services for the construction and industrial markets. Its integrated solutions for the renovation of public and private buildings, light construction and the decarbonization of construction and industry are developed through a continuous innovation process and provide sustainability and performance. The Group's commitment is guided by its purpose, "MAKING THE WORLD A BETTER HOME".
 
€47.9 billion in sales in 2023
160,000 employees, locations in 76 countries
Committed to achieving net zero carbon emissions by 2050
 
For more information about Saint-Gobain, visit
www.saint-gobain.com (http://www.saint-gobain.com/)
 and follow us on  X
@saintgobain (https://twitter.com/saintgobain)

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