May 13, 2020 / 6:26 AM / 16 days ago

France's CMA CGM gets 1.05 bln euro loan partly backed by gov't

PARIS, May 13 (Reuters) - CMA CGM has arranged a 1.05 billion euro ($1.1 billion) syndicated loan to be 70% guaranteed by the French government, the shipping and logistics company announced on Wednesday.

It said the loan was arranged by a consortium of banks BNP Paribas, HSBC and Société Générale.

CMA CGM said it expects a 10% fall in market volumes in the first half of 2020 versus a year earlier.

$1 = 0.9219 euros Reporting by Sudip Kar-Gupta and Gus Trompiz; editing by Jason Neely

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