BERLIN, (Reuters) – Germany’s flag carrier Lufthansa has announced that on Friday it signed a revolving debt facility in the amount of 2.0 billion Euros ($2.17 Billion) with a syndicate international relationship banks to improve its liquidity.

Lufthansa stated that the new unsecured loan facility, which replaces Lufthansa’s existing undrawn credit line of approximately 0.7 billion Euros, will be made available for three year with two extensions options.

Remco Steenbergen Finance Chief stated that signing our first syndicated, revolving credit facility will strengthen our liquidity reserve as well as increase the efficiency of our balance sheets in meeting our liquidity target (between 6-8 billion Euros)

HSBC Continental Europe, Landesbank Baden-Württemberg and UniCredit Bank acted as coordinating bookrunners and mandated lead arrangers, Lufthansa said.

($1 = 0.9213 euros)