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Renault, Peugeot Citroen reimburse $2.5B to state

Renault, Peugeot Citroen reimburse $2.5B to state

Carmakers Renault SA and PSA Peugeot Citroen are reimbursing ahead of schedule (EURO)1 billion ($1.27 billion) each in loans that were part of the French state bailout of the auto industry.
The French companies issued near simultaneous statements saying they would pay each pay back (EURO)1 billion on Friday. Both won loans of (EURO)3 billion each in 2009 as part of a government rescue effort for the auto industry.
Peugeot Citroen said the reimbursement would reduce overall debt and allow a "significant drop in financial charges." Renault said likewise in its statement.


Updated : 2021-05-08 16:43 GMT+08:00