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  • Oversubscription Highlights Market Confidence and Sustainable Commitment

Courbevoie, France – Saint-Gobain, a leader in light and sustainable construction, Tuesday said it priced its first “double Green Bond”. The proceeds from this bond issuance are earmarked for financing projects that are in harmony with the European taxonomy, showcasing Saint-Gobain’s dedication to environmentally focused initiatives.

The recent transaction has also enabled Saint-Gobain to take advantage of favorable market conditions. This strategic move is aimed at extending the average maturity of its debt while simultaneously optimizing its financing costs. This step is indicative of Saint-Gobain’s proactive approach to financial management, ensuring long-term stability and growth.

Demonstrating the high confidence the market has in Saint-Gobain’s credit quality, the bonds witnessed an overwhelming response, being approximately 3 times oversubscribed. This response came from close to 200 investors, reflecting a robust market trust in the Group’s financial health and strategic direction.

Saint-Gobain’s senior long-term debt currently holds a BBB+ rating with a stable outlook from Standard & Poor’s, and a Baa1 rating with a stable outlook from Moody’s. These ratings underscore the company’s strong creditworthiness and stable financial outlook, further bolstered by the successful bond issuance.

By Lisa Luckas

Lisa Luckas is a Sr. Business News Editor at Nobot.News.

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