Saint-Gobain Diversifies its Sources of Financing With a Euro 600 Million
Securitisation Programme for Trade Receivables in France
PARIS, December 2, 2013
PARIS, December 2, 2013 /PRNewswire/ --
The Saint-Gobain Group diversifies its sources of on-going financing at a
favourable level of cost through a securitisation programme for trade
receivables in France.
Point.P group, Saint-Gobain's professional building distribution activity in
France, concluded today, with a group of six banks*, agreements to establish a
trade receivables securitisation programme for a maximum financing amount of
Euro 600 million.
Half of the banks' commitments have a three-year term (renewable) while the
other half are on the basis of a one-year commitment (automatically
renewable). Based on recently observed levels of 1 month Euribor, the initial
annualized cost of this floating rate financing, including set up and running
costs, would be about 0.8%.
*The group of six banks is made of a lead arranger,Société Générale,and five
arrangers: Crédit Agricole Corporate & Investment Bank,HSBC,The Bank of
Tokyo-Mitsubishi UFJ Ltd.,Mizuho Bank Ltd.,Natixis.
More about Saint-Gobain
Saint-Gobain,the world leader in the habitat and construction
markets,designs,manufactures and distributes building materials,providing
innovative solutions to the challenges of growth,energy efficiency and
environmental protection. With 2012 sales of €43.2 billion,Saint-Gobain
operates in 64 countries and has nearly 193,000 employees. For more
information about Saint-Gobain,please visithttp://www.saint-gobain.com.
Gaetano TERRASINI +33-1-47-62-32-52
Alexandra BAUBIGEAT +33-1-47-62-30-93
Sophie CHEVALLON +33-1-47 62-30-48
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