Casino Group has announced the signing of a five-year confirmed credit facility with ten international banks for US$1bn (€779m), refinancing the existing three-year, US$900m (€701m) facility signed in August 2011.
Bank lenders in the deal include JPMorgan and RBS (coordinating banks), Bank of America Merrill Lynch, Bank of Tokyo-Mitsubishi, Barclays, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs and Mizuho Bank, the group revealed.
'This credit line refinances the existing 3-year US$900m facility signed in August 2011,' the group noted. 'The increase in size and the maturity extension to five years strengthen the group’s liquidity and extend the average maturity of Casino’s confirmed lines from 1.8 years to 3 years.
'This transaction gives the group access to competitive financial resources with large international banks,' Casino added.
