Banque PSA Finance has signed a EUR2bn three-year syndicated revolving credit facility (with the possibility of two one-year extensions, at the banks' option). The new facility refinances an existing EUR2bn arrangement which was due to mature in June 2012.

Syndication of this facility was oversubscribed by 25 banks from 10 countries, including six new banks.

This revolving facility has an opening margin of 160 basis points and a 40% non-utilisation fee.

"With this new facility Banque PSA Finance has anticipated, at attractive conditions, the need to refinance in 2012 a significant credit line which is a key element of its financial security. The success of this transaction confirms the strong support provided to Banque PSA Finance by its relationship banks," the PSA finance arm said in a statement.