Déjà vu for Saint-Gobain

Thankfully for Saint-Gobain’s €800 million convertible bond issue it did not turn out to be a case of third time lucky – twice was more than enough.

The company launched a five-year deal led by BNP Paribas and Schroder Salomon Smith Barney on February 8, but investors could be forgiven if they had a sense of déjà vu. In late January before the deal had been launched the term sheet for the deal was accidentally sent to International Insider screen service.

Sean Trendall, editor of the Reuters-based

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