Saint-Gobain // Universal Registration Document 2021

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Financial and accounting information Compagnie de Saint-Gobain 2021 annual financial statements (parent company)

Long-term debt can be analyzed as follows by currency:

2021 9,026

2020 10,541

(in EUR million)

Euro

Pound sterling

660

617

TOTAL

9,686

11,158

The amortization of expenses incurred to set up borrowings is recognized on a pro rata basis over the term of the borrowings in question. These expenses are shown on the “Deferred charges” line of the balance sheet (see Note 11 “Deferred charges”).

Perpetual bonds 15.1 In 1985, Compagnie de Saint-Gobain issued 25,000 perpetual bonds with a face value of ECU 5,000 (€5,000 today). A total of 18,496 perpetual bonds have since been bought back and canceled, and 6,504 perpetual bonds are outstanding at December 31, 2021, representing a total face value of €33 million. The bonds bear interest at a variable rate (average of interbank rates offered by the five reference banks for six-month euro deposits). The amount paid out per bond in 2021 was €0. The bonds are not redeemable and interest on the bonds is classified as a component of finance costs.

15.2

Main changes in bond debt

in 2020 Compagnie de Saint-Gobain also redeemed the following instruments at maturity: a €750 million private placement paying variable-rate ■ interest at 3-month Euribor +0.35% on March 22, 2021; €750 million worth of 3.625% bonds on June 15, 2021. ■

Financing programs 15.3 The Group has a number of medium- and long-term financing programs (Medium-Term Notes) and short-term financing programs (Commercial Paper). At December 31, 2021, the state of these programs was as follows:

Balance outstanding at Dec. 31, 2020

Balance outstanding at Dec. 31, 2021

Authorized drawings any duration

Authorized limits at Dec. 31, 2021

(in EUR millions)

Medium-Term Notes

15,000 4,000

9,649

11,149

NEU CP

up to 12 months up to 12 months up to 12 months

0 0 0

0 0 0

US Commercial Paper Euro Commercial Paper

883* 883*

Equivalent to USD 1,000 million based on the exchange rate at December 31, 2021. *

In accordance with market practices, Negotiable European Commercial Paper (NEU CP), US Commercial Paper and Euro Commercial Paper are generally issued with maturities of one to six months. They are treated as variable-rate debt since they are rolled over at frequent intervals. Syndicated lines of credit Compagnie de Saint-Gobain has two syndicated lines of credit that are intended to provide a secure source of financing for the Group (including as additional backing for its NEU CP, US Commercial Paper and Euro Commercial Paper programs):

a €2.5 billion syndicated line of credit, maturing in ■ December 2024 after the exercise of the two one-year rollover options; a second €1.5 billion syndicated line of credit, also ■ maturing in December 2024 after the exercise of the two one-year rollover options. Based on the Group’s current credit rating for long-term debt issues, the two facilities are not subject to any covenants. Neither of these two lines of credit had been drawn down at December 31, 2021.

SAINT-GOBAIN UNIVERSAL REGISTRATION DOCUMENT 2021 356

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