StockMarketWire.com - Compagnie de Saint-Gobain has signed with a group of banks an undrawn revolving credit facility for €1.5bn, maturing in December 2022 with two options for an additional one-year extension each.

This replaces a facility of an equivalent amount which was due to mature in December 2018.

Saint-Gobain said the new facility was significantly oversubscribed with bank commitments reaching €2.5bn.

Saint-Gobain also obtained the agreement from banks to extend the maturity of another undrawn revolving credit facility for €2.5bn from December 2020 to December 2022, also with two options for an additional one-year extension each.

The cost of this facility has now been aligned with that of the new €1.5bn facility.

Saint-Gobain said 32 banks of 12 nationalities were participating in at least one of these facilities, underlining their confidence in the credit quality of the group.

Saint-Gobain said the financial conditions for the two facilities going forward represented an annual saving of over €4m in financial charges.


At 8:26am: [LON:COD] Compagnie De StGobain share price was -0.35p at 47.1p



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