Renault has drawn down further on 5 billion euro state-backed loan

Monitoring Desk

PARIS (Reuters) – French carmaker Renault in December drew down an extra 1 billion of its 5 billion euro ($6.1 billion) government-guaranteed loan arranged due to the COVID-19 crisis, Deputy Chief Executive Clotilde Delbos told an online presentation on Thursday.

Renault has now tapped 4 billion euros of the loan, Delbos said, adding that the company felt it was wise to use the means at its disposal.

($1 = 0.8224 euros)

Courtesy: Reuters