Daily News: July 8, 2013

JPMorgan, RBS Lead $1B Credit Facility for Groupe Casino

Groupe Casino said it has signed a five-year confirmed credit facility for $1 billion with a group of ten international banks: 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.

This credit line refinances the existing three-year $900 million facility signed in August 2011. 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 three years.

The company said this transaction gives the group access to competitive financial resources with large international banks.