BNP Paribas begins tender offer for four series of Saint-Gobain notes

By Angela McDaniels

Tacoma, Wash., Sept. 22 - BNP Paribas has begun a cash tender offer for Compagnie de Saint-Gobain SA's €1 billion of 8.25% notes due 2014, €750 million of 6% notes due 2013, €750 million of 7.25% notes due 2013 and €1.1 billion of 4.25% notes due 2011, according to a company news release.

The details of the tender offer were not disclosed. The offer is not being made in the United States or Italy.

BNP Paribas said requests for information about tendering notes in the offer should be directed to the tender agents, which are BNP Paribas Securities Services (33 1 55 77 61 60) for the 4.25% notes and BNP Paribas Securities Services, Luxembourg Branch (352 2696 2000) for the remaining notes.

The lead structuring adviser is BNP Paribas (44 20 7595 8668), with J.P. Morgan Securities Ltd. (call corporate syndicate at +44 207 779 2468 or liability management at 44 207 777 1333) as structuring adviser.

The joint dealer managers are BNP Paribas, Citigroup Global Markets Ltd. (44 0 207 986 8969), HSBC France (44 20 7991 5874), JPMorgan, Societe Generale Corporate & Investment Banking (33 01 42 13 87 36) and Royal Bank of Scotland (44 207 085 8056 / 3781).

Based in Courbevoie, France, Saint-Gobain processes and distributes materials that include glass, ceramics, plastics and cast iron.

BNP Paribas is a financial services company based in Paris.

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