CERTAINTEED SEEKS 150 MLN DLR CREDIT FACILITY
CertainTeed Corp is seeking a 150 mln
dlr multiple facility, which will incorporate a revolving
credit and allow the borrower to issue short-term advances,
euronotes and euro-commercial paper on an uncommitted basis,
Chemical Bank International said as arranger.
    The revolving credit will be for five years and drawings
will be at 10 basis points over the London Interbank Offered
Rate (Libor). There also will be a 150 mln dlr swingline option
available under which drawings will be at 10 basis points over
the U.S. Prime rate.
    The euronotes will have maturities of one, three and six
months and be sold in denominations of 500,000 and one mln
dlrs, while the commercial paper will have maturities of up to
183 days.
    There will be a facility fee of 10 basis points and
utilisation fees of five basis points for up to 33 pct, 7.5
basis points for between 34 and 66 pct and 10 basis points for
the remainder.
    CertainTeed, a U.S. Building products company, is 57 pct
owned by Cie de Saint-Gobain <SGEP.PA>, the recently privatised
French glass and materials group.
 REUTER
