Retail conglomerate Auchan has signed an €800m (£686m) loan after taking double the launch amount.
Syndication proved to be straightforward for the supermarket group, which raised more than €1.3bn (£1.1bn) from the market. HSBC, Intesa, Sanpaolo, Natixis and Santander led the transaction.
After being increased from €400m (£343m), lenders’ allocations were also scaled back when 14 banks joined the leads during syndication. The credit will serve as a new back-up line.