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Cades completes Eu12bn to back money-markets funding

Caisse d’Amortissement de la Dette Sociale (Cades) has signed a new Eu12bn revolving credit facility to act as a back-up line to the agency’s money market funding programme. The new loan facility, which is set to mature in February 2012, was only marketed to the agency’s relationship banks. It was around Eu2bn oversubscribed and lenders saw their commitments slightly scaled back.

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