FRANKFURT –  German home improvement retailer Praktiker AG (PRA.XE) said Saturday it has reached an agreement with a bank consortium led by Commerzbank AG (CBK.XE) to transfer existing bilateral credit lines into a joint credit agreement.

The volume, a sum in the mid-digit million euro range, will remain unchanged, Praktiker said in an ad-hoc statement.

The arrangement allows the company to cover possible financing peaks, which are typical for the upcoming spring season, by short-term access to the overdraft facilities, it said.

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