Dutch retailer Ahold today [Thursday] announced that it has signed a new back-up credit facility for US$1.45bn and €300m (US$372m) with a syndicate of banks.

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The company recently completed a rights issue worth approximately €3bn to shore up its deleted coffers following the accounting scandal that rocked the company earlier this year.


Meanwhile, Cees van der Hoeven, former chief executive officer of Dutch retailer Ahold, has launched arbitration proceedings against the company relating to the termination of his employment.


Ahold is currently dealing with the aftermath of a hugely costly accounting scandal, at the height of which Van der Hoeven resigned, along with financial officer Michiel Meurs.


Ahold said in a statement confirming the arbitration proceedings that it would not comment until after the arbitration panel has given its final verdict.

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