Renault wheels out €5bn state-guaranteed loan, few concessions requested in return
Renault, the French car company, has arranged an up to €5bn short-term credit facility backed by its government, as fierce complaints have followed similar guarantees in other industries.
The deal has a 12 month maturity, with the option to extend for another three years.
The French government, which owns 15% of Renault, is guaranteeing 90% of the transaction. BNP Paribas, Crédit Agricole, HSBC, Natixis and Société Générale are providing the funds.Loans bankers from two of the lenders ...