June 3, 2020 / 6:34 AM / a month ago

Renault finalises 5 billion euros credit facility with French state

PARIS, June 3 (Reuters) - 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.

$1 = 0.8925 euros Reporting by Sudip Kar-Gupta Editing by Keith Weir

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