French listed retail specialist Klepierre has signed a €750m syndicated revolving credit facility with a pool of 16 international banks.

French listed retail specialist Klepierre has signed a €750m syndicated revolving credit facility with a pool of 16 international banks.

The deal has a five-year term and will bring a one-year extension to the company’s current credit facilities to reach 3.8 years in total.

The transaction was initially launched for €500 mln and has been significantly oversubscribed. Klepierre claims this reflects the attractiveness of its credit quality.

The new financing partially replaces credit facilities provided by French bank BNP Paribas in 2012. The BNP package consists of a €500 mln facility maturing in 2016 and a further €500 mln facility maturing in 2018, both of which have now been reduced to €125 mln.

Klepierre’s portfolio is valued at €16.4 bn and comprises a number of flagship shopping centres across 13 European countries.