Kaiser Aluminum signed a new credit agreement.

The firm’s total bank debt of about $1 billion is consolidated under the new agreement, which also extends maturities and provides for a $165-million, four-year revolving credit, the Oakland company reported. The refinancing consolidates into a single debt agreement a number of loans previously covered under a variety of agreements with about 40 domestic and foreign banks. The new agreement, which matures in 1992, is subject to certain closing conditions expected to be satisfied by the end of March.