In a major development, CMA CGM has announced that they have secured a €1.05bn loan from BNP Paribas, HSBC and Société Générale, backed by the French government, reports Gavin Van Marle in an article published in the LoadStar.
- The new debt comes under France’s state-guaranteed loan scheme, established at the end of March in response to the Covid-19 pandemic.
- The state has guaranteed 70% of the loan, which has an initial one-year maturity and an extension option for up to five years.
https://mfame.guru/cma-cgm-first-shipping-company-to-get-state-backed-covid19-loan/