Remy Cointreau has signed a five-year credit facility for around €500m. The French company said yesterday (7 June) that the revolving facility has been secured with a group of banks, in order to refinance an earlier facility.

The lead managers of the facility, which has two one-year extension options, are Banc of America Securities, BNP Paribas, Caylon, Commerzbank, Rabobank, Credit Mutuel-CIC, Fortis Bank, Natexis Banques Populaires, WestLB and SG Corporate & Investment Banking.

The facility will pay an initial margin of Euribor plus 67.5 basis points a year, the spirits company said in a statement.

It refinances the existing outstanding €500m facility, which was signed in June 2003.