Global law firm White & Case LLP has advised BNP Paribas, Crédit Agricole Corporate and Investment Bank, HSBC France, Natixis, and Société Générale on the €5 billion Term Loan facility guaranteed by the French state granted to the Renault group.
The loan will be guaranteed up to 90 percent by the French state and has an initial maturity of 12 months, with an extension option at the borrower’s discretion for an additional three-year period. It is the largest of its type in France to date.
Granted during the COVID-19 crisis, the loan is intended to provide the Renault group with sufficient liquidity to face the economic consequences of the pandemic.
Since the beginning of the COVID-19 crisis in France, White & Case has advised on a number of significant loans guaranteed by the French state, in particular for Fnac Darty, Europcar Mobility Group and Air France-KLM.
The White & Case team in Paris which advised on the transaction was led by partners Raphaël Richard and Samir Berlat and included partners Jean-Luc Champy and Yann Utzschneider, with support from counsels Orion Berg and Jean Paszkudzki, and associates Céline Oréal, Alicia Bali and Yasmine Sefraoui.
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