Carrefour checks out with €1.5bn refi in tricky market

French supermarket chain Carrefour’s €1.5bn five year revolving credit facility was healthily oversubscribed in syndication, said bankers, despite a challenging market. Some 20 of the Baa1/BBB+/BBB+ rated company’s relationship banks this week signed into the transaction, which has a margin of 75bp and refinances a deal of the same size completed in July 2005.