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6/3, 9:30 AM (Source: TeleTrader)
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Renault+0.84%

22.205
Chart for: RENAULT

Renault finalises €5B state-guaranteed loan

Groupe Renault announced on Wednesday that its agreement with the French government over a state-backed loan worth €5 billion aimed at battling the negative effects of the coronavirus pandemic had been finalized.

The car manufacturer will be allocated the funds by December 31, 2020, with the state guaranteeing up to 90% of the total amount borrowed. The loan will have a 12-month maturity, which Renault will be able to extend for another three years if necessary.

Following the announcement, Renault's shares have surged 7.40% at 9:26 am CET.

Breaking the News / JR