Renault finalises 5 billion euros credit facility with French state

(FILE) - The logo of the French car manufacturer Renault in Paris, France. EPA-EFE/YOAN VALAT

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Carmaker Renault finalised on Wednesday a 5 billion euros ($5.60 billion) credit facility with the French government, strengthening Renault’s finances in the wake of the coronavirus pandemic which has ravaged the autos industry.

Renault said that the new 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, Credit Agricole, HSBC France, Natixis and SocGen were involved in the new Renault credit deal.

Via Reuters

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