French pharmaceutical company Sanofi, rated A1/AA, has amended a €7bn credit line, stretching the tenor out by a year and cutting the pricing.
The loan, signed in 2011, was due to mature in 2017, but will now be repaid a year later. The new deal also has two one year extension options.
"This facility has neither rating grid nor financial covenants," said a Sanofi spokesperson by email.
The spokesperson added: "In addition to