Saint-Gobain has signed a revolving credit facility for €1.5 billion with 28 banks, maturing in December 2017.

The facility, initially planned for €1 billion, was oversubscribed with bank commitments reaching in excess of €2.2 billion.

This enabled Saint-Gobain to increase the size of the facility to €1.5 billion and it said underlines renewed banks’ confidence in the credit quality of Saint-Gobain.

This credit facility replaces €1 billion facility which was due to mature in June 2013 and reduces another facility from €3 billion to €2.5 billion maturing in December 2015.