French customer-owned insurer, Groupama, has restructured its debt, Bloomberg reports. The company has secured a new €1 billion loan to replace a facility that matures later this year.

The Paris-based company’s new credit line of the same amount is due to mature on Dec. 31, 2011. Groupama appointed Credit Agricole, HSBC Holdings, Natixis, Societe Generale and Royal Bank of Scotland to arrange the new facility.

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