GDF Suez signs new 5 bln eur credit line

PARIS, April 3 Thu Apr 3, 2014 12:12pm EDT

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PARIS, April 3 (Reuters) - GDF Suez said it signed a five-year 5 billion euro ($6.86 billion) multi-currency credit line with a syndicate of 25 banks to be used for the early refinancing of two undrawn credit lines expiring in 2014 and 2015.

"GDF Suez was able to seize particularly favorable market conditions, improving significantly the cost of this liquidity thanks to a fixed margin of 20 basis points," GDF said in a statement on Thursday.

GDF added that the transaction was 40 percent oversubscribed. ($1 = 0.7291 Euros) (Reporting by James Regan; Editing by Andrew Callus)