NETHERLANDS: Ahold confirms credit facility
Beleaguered Dutch retail giant Ahold has announced that it has entered into a revolving credit facility with ABN AMRO, Goldman Sachs, ING, JP Morgan and Rabobank. The facility provides for aggregate borrowings of €2.65bn (US$2.90bn). In addition, the company said banks remain committed to provide an additional €450m backup facility to support existing US$850m securitisation programmes. Ahold had previously announced on 24 February the €3.1bn commitment of the financial institutions and banks to provide the new credit facility as well as the backup facility.
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