Banque PSA amends revolver and extends maturity to 2013

04 Feb 2011

France’s Banque PSA Finance, the sales financing arm of carmaker Peugeot, has cut a Eu1.51bn revolving credit line originally arranged in July 2009, extending its maturity by two years and signing it at a new size of Eu923m.

The pricing has also been cut.

"The amendment has gone down very well," said a banker close to the deal. "The deal reflects the improving financial situation of the company and the favourable borrowing conditions available at the moment."

BNP Paribas, Crédit Agricole, Natixis and Société Générale acted as bookrunners ...

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