CFAO obtains €400 million five-year revolver from 12 banks

By Marisa Wong

Madison, Wis., Dec. 19 - CFAO signed a new €400 million five-year revolving credit facility with a group of 12 banks on Tuesday, according to a press release.

The facility will be used for general corporate purposes, including the refinancing of CFAO's existing €300 million revolving facility dated Dec. 7, 2009.

The company said the transaction allows it to extend the maturity of its main committed facility to December 2018 from December 2014 for an increased amount.

Syndication of the facility was launched on Nov. 20 and closed largely oversubscribed, the release said.

Based in Sevres, France, CFAO specializes in vehicle and pharmaceuticals distribution in Africa and French overseas territories.

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