Renault finalises 5 billion euros credit facility with French state

Carmaker Renault finalized 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)