A Renault is seen in the car, in a showroom at a Renault (the car manufacturer, the dealer, in the midst of the feline corona virus disease (COVID-19) outbreak in Sint-Pieters-Leeuw, Belgium, may 29, by the year 2020. REUTERS/Yves Herman)
PARIS (Reuters) – Renault (RENA.PA) finished 5 billion euros ($5.60 billion) loan from made on Wednesday, with the French government, and the strengthening of the carmaker’s finances in the Wake of the corona-virus-pandemic-stricken auto-industry.
Renault have said that the loan carried a guarantee from the French state owns 15% of Renault shares (up to 90% of the total amount borrowed.
Renault also said in a statement that the loans the company’s liquidity requirements would be for the financing.
The car maker announced last week that it plans to cut about 15,000 jobs worldwide, including 4,600 in France, where the company will seek to voluntary departure, and the use of the pension system.
The announcement sparked weekend protests in some factories, as well as in Maubeuge in Northern France, even though Renault’s chairman Jean-Dominique Senard has committed the site will not be closed.
($1 = 0.8925 number
Reporting by Sudip Kar-Gupta and Matthieu Protard; editing by Keith Weir and Louise heavens