Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2022 > News item |
Saint-Gobain holders tender £183.6 million of 5.625% notes in offer
By Mary-Katherine Stinson
Lexington, Ky., May 16 – Compagnie de Saint-Gobain said £183.6 million of its 5.625% notes due November 2024 (ISIN: XS0274270817) have been tendered and accepted for purchase, according to a notice on Monday.
As previously reported, the company launched a tender offer for any and all of its £300 million 5.625% notes on May 6.
Pricing for the consideration will be based on the 2.75% U.K. Treasury due Sept. 7, 2024 and a purchase spread of 65 basis points.
The offer expired at noon ET on May 13.
Pricing took place at 6 a.m. ET on May 16.
Settlement is expected for May 18.
The offer will not be prorated.
The purpose of the offer was to manage the company’s debt profile proactively and provide liquidity for investors in the notes.
NatWest Markets NV is the dealer manager (+33 173249880, liabilitymanagement@natwestmarkets.com).
Kroll Issuer Services Ltd. (+44 20 7704 0880, saintgobain@is.kroll.com) is the tender agent.
Based in Courbevoie, France, the company processes and distributes materials that include glass, ceramics, plastics and cast iron.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.