Renault: State backed credit agreement
(CercleFinance.com) - Renault announces that it has entered into a credit facility agreement with a pool of banks totaling up to five billion euros, backed by a guarantee from the French state, to finance its liquidity needs.
The amount may be drawn down in whole or in part and on one or more occasions between now and 31 December 2020. The initial maturity of each drawdown will be 12 months, with the option for Renault to extend the maturity by three years.
The carmaker adds that the French State guarantee covers 90% of the total amount borrowed, and that the banking pool is made up of the five banks BNP Paribas, Crédit Agricole, HSBC France, Natixis and Société Générale.
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