French construction materials group Compagnie de Saint-Gobain has set terms for a dual-tranche sale of bond worth €1.75 billion. The bond has an average maturity of around six years and an average annual coupon of nearly 4 percent.
The bond sale enables the company to both lengthen the average maturity of its debt and optimize its average cost of funding. Lead managers for the issue were Credit Agricole CIB, JPMorgan Chase & Co., Royal Bank of Scotland and Societe Generale CIB.
Click here for the release from PR Newswire.