World News

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

PARIS (Reuters) – Renault <RENA.PA> Chairman Jean-Dominique Senard said on Friday that the carmaker could seek bank loans worth 4-5 billion euros ($4.4-$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.

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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