Renault finalises 5 billion euros credit facility with French state

PARIS (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)