Ahold said it has entered into a new credit facility providing it with aggregate borrowings of 2.65bn euros.

In addition, the Dutch retailer said banks remained committed to provide an additional 450m euros backup facility to support existing $850m securitization programs.

Chairman of Ahold’s supervisory board Henny de Ruiter said: “We are extremely pleased by the vote of confidence shown by the lender group, as well as the ongoing support shown by Ahold’s existing suppliers.

“While no one can predict the future, we are encouraged by the lenders’ conclusion to move forward and we remain optimistic about the company’s prospects.”

The lender group consists of ABN, AMRO, Goldman Sachs, ING, JP Morgan and Rabobank.