Europcar gets 307 million euros in financing to cope with COVID-19 crisis

PARIS (Reuters) – French car hire company Europcar said on Sunday it had secured a total of 307 million euros ($337.18 million) in new financing to manage through the coronavirus crisis.

The sum includes a 220 million euro loan guaranteed at 90% by the French state, 67 million euros of liquidity lines guaranteed at 70% by the Spanish state, and 20 million euros of revolving credit facility backed by French investment firm Eurazeo , the company said in a statement.

Eurazeo owns 29.8% of Europcar.

($1 = 0.9105 euros)

(Reporting by Gwenaelle Barzic,; Writing by Mathieu Rosemain,; Editing by Andrew Cawthorne)