Renault chairman: could seek 4-5 billion euros worth of bank loans

News April 10, 2020 No Comments

Renault chairman: could seek 4-5 billion euros worth of bank loans

PARIS: Renault Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros (US$4.4-US$5.4 billion).

“It could be in that sort of region,” Senard told RTL radio, who also reiterated that Renault was not currently envisaging a scenario whereby the French state would nationalise the company.

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On Thursday, Renault cancelled its dividend and said that Senard and interim chief executive officer Clotilde Delbos had agreed to pay cuts, to help finance a solidarity fund for staff affected by the coronavirus crisis.

(Reporting by Sudip Kar-Gupta. Editing by Carmel Crimmins)

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