Renault has completed procedures for obtaining a state loan of 5 billion euro
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Renault has completed procedures for obtaining a state loan of 5 billion euro
Renault (RENA.PA) finalised on Wednesday a 5 billion euro ($5.60 billion) loan from with the French government, strengthening the carmaker’s finances in the wake of the coronavirus pandemic which has ravaged the auto industry. Renault said that the credit facility carried a guarantee from the French state - which owns a 15% stake in Renault - of up to 90% of the total amount borrowed.
Banks BNP Paribas (BNPP.PA), Credit Agricole (CAGR.PA), HSBC France (HSBA.L), Natixis (CNAT.PA) and SocGen (SOGN.PA) were involved in the credit deal.
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