Groupe Renault finalized a €5 billion ($5.6 billion) credit facility agreement with BNP Paribas, Crédit Agricole, HSBC France, Natixis and Société Générale. The French State will guarantee up to 90% of the total amount borrowed.

This credit facility, which may be drawn in whole or in part, will help finance the group’s liquidity requirements within the context of an unprecedented crisis.

The main terms and conditions of this credit facility include:

• A maximum total amount of €5 billion ($5.6 billion), which may be drawn in whole or in part and in one or several times, until Dec. 31st, 2020
• An initial 12-month maturity, with an option for Renault to extend the maturity for an additional three-year period

Groupe Renault is a car manufacturer. The company sold close to 3.8 million vehicles in 134 countries in 2019.