UK plumbing firm Wolseley has signed revolving credit facilities of €750m and $270m, reducing the cost of its financing by replacing outstanding credit facilities.
Barclays Capital, Crédit Agricole and Danske Bank led the European tranche, while the US facility was led by Bank of America Merrill Lynch and PNC.
The two 5.25 year revolvers have roughly the same commercial terms. The company estimates that it has saved around £12m ($19.5m) a year
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