Renault finalises 5 billion euros credit facility with French state
PARIS (Reuters) - Carmaker Renault <RENA.PA> 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 <BNPP.PA>, Credit Agricole <CAGR.PA>, HSBC France <HSBA.L>, Natixis <CNAT.PA> and SocGen <SOGN.PA> 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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