The $1.75bn facility replaces the company's previous credit agreement, dated 8 January 2007, and all amounts outstanding under the previous agreement were repaid from the new facility, which will expire on 17 December 2013 (subject to a possible one-year extension).

Under the terms of the new agreement, the company has entered covenants to maintain an interest coverage ratio (ICR) greater than or equal to 3.0 and a leverage ratio of less than or equal to 4.0.