FILE PHOTO – The logo of car rental company Europcar is seen at Zurich Airport, January 9, 2018. REUTERS/Arnd Wiegmann
PARIS (Reuters) – French car hire company Europcar (EUCAR.PA) said on Sunday it had secured a total of 307 million euros ($337.18 million) in new financing to manage through the coronavirus crisis.
The sum includes a 220 million euro loan guaranteed at 90% by the French state, 67 million euros of liquidity lines guaranteed at 70% by the Spanish state, and 20 million euros of revolving credit facility backed by French investment firm Eurazeo (EURA.PA), the company said in a statement.
Eurazeo owns 29.8% of Europcar.
($1 = 0.9105 euros)
Reporting by Gwenaelle Barzic,; Writing by Mathieu Rosemain,; Editing by Andrew Cawthorne
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