Metcash Ltd has refinanced a $700 million syndicated debt facility, which was well supported by local and overseas banks.

Metcash chief financial officer Adrian Gratwicke said the company was pleased with the transaction, particularly as it had taken place at a time when there was so much uncertainty in the market.

The new facility consists of a $400 million tranche maturing in December 2014 and a $300 million tranche maturing in December 2015.