Saint-Gobain to cut pricing and extend tenor

23 Mar 2010

Compagnie de Saint-Gobain is trying to exploit improving conditions in the loan market by extending a Eu2.5bn three year revolver signed last year and cutting its margin, bankers close to the borrower said on Tuesday.

The French building materials group wants to push out the facility from June 2012 until June 2013 and reduce the margin to 100bp. The outstanding facility paid 200bp out-of-the-box.

“This really reflects the general improvement of market conditions since last year, especially on margins,” said a banker close to ...

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