Food and general merchandise retailer Auchan has signed an €800m (£686m) revolving credit facility with a syndicate of international banks, according to local press.

The transaction raised a total of €1.3bn (£1.1bn) in syndication and was subsequently increased from the launch amount of €400m (£343m).

The transaction was led by Banco Santander, HSBC France, Intesa Sanpaolo and Natixis. Auchan said the financing is a new back-up facility and not a refinancing as previously reported.