Klepierre, the French shopping centre manager, has signed a EUR 1 bn line of credit to be syndicated among five banks. The loan, initially launched for EUR 800 mln, features a seven-year term and financing covenants identical to those for the January 2006 syndicated loan agreement. It has a margin of between 0.45% and 0.55% based on a 'loan-to-value' grid. The five participating banks are BNP Paribs, BECM, Cicobail, Heleba and ING.
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