Credit insurer Coface SA signed a three-year, €700 million syndicated loan agreement, replacing existing bilateral credit lines.

The syndicating group comprised Natixis, Société Générale, BNP Paribas and Crédit Agricole CIB as mandated lead arrangers and book runners, and HSBC and BRED as mandated lead arrangers. The loan has options to extend its duration by one year on two occasions, subject to the banks' agreement.