Calyon took part in the last syndicated loan put into place by Saint Gobain on June 15, 2009. Alongside 23 other banks, Calyon acted as co-ordinator, joint bookrunner and facility agent.

The loan was for a total of EUR 2.5 billion and has a three-year maturity (due in June 2012).

In signing this new loan, Saint Gobain completed its program of refinancing its long-term debt that comes due by the end of 2010. For its program, the Group had already proceeded with two bond issues in January and May 2009 and a capital increase in March 2009 (in which Calyon also took part).

“This transaction is a logical decision on the part of Saint Gobain. It is proof of the group’s sound management of its liquidity and its substantial ability to anticipate” explains Corinne Tirilly, Global Loan Syndication. “The success of the deal is testimony to the banks’ marked confidence in this loan. In effect, of the 26 banks invited to participate (one of which was not initially invited but expressed its desire to take part) 24 took part in the transaction which was largely oversubscribed.”

This was the second consecutive instance since October 2007 where Calyon acted as the sole coordinator for a syndicated loan for Saint Gobain.