Renault's state-backed loan carries no major conditions, says chairman

French carmaker Renault's chairman, Jean-Dominique Senard, on Tuesday said that the 5 billion euro ($5.6 billion) state-backed loan due to granted by the government comes without any major conditions.

Senard also told franceinfo radio that the company aims to present a new strategic plan, including the vision for its brands, by the end of the year after a new CEO comes on board.

Renault last week unveiled plans to cut about 15,000 jobs, shrink production and restructure French plants. ($1 = 0.8953 euros)