Dutch chemicals group Akzo Nobel is looking for a €1.5 billion loan, Reuters reports. The credit facility will be used to refinance an existing financing that is set to mature in 2013.

The new revolving credit facility, which is being coordinated by Citi, will be due to mature in 2016 and has two one-year extension options. The previous seven-year €1.5 billion loan was arranged by ABN Amro, Barclays, Citigroup, Deutsche Bank and HSBC Holdings.

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