Gaz de France signs EUR 3bn syndicated credit

21st February 2005, Comments 0 comments

PARIS, Feb 21 (AFP) - The French gas group Gaz de France has signed a seven year multi-currency syndicated credit worth EUR 3 billion (USD 3.9 billion) that was strongly oversubscribed by creditor banks, GDF said Monday.

PARIS, Feb 21 (AFP) - The French gas group Gaz de France has signed a seven year multi-currency syndicated credit worth EUR 3 billion (USD 3.9 billion) that was strongly oversubscribed by creditor banks, GDF said Monday.

A syndicate of 20 banks was led by Barclays Capital, BNP Paribas, Calyon, Citigroup, Dresdner Kleinwort Wasserstein, HSBF CCF, JP Morgan, Natexis Banques Populaires and SG Corporate and Investment Banking.

The new credit replaces one worth EUR 2 billion signed in August 2002 and is designed to cover general needs and support short-term finance programs, GDF said in a statement.

On February 8, French Finance Minister Herve Gaymard said that if conditions were right, the government would float shares in the gas company by mid 2004.

© AFP

Subject: French News

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