Daily Management Review

Renault Could Turn To Bank Loans, Said Chairman Senard


Renault cancels dividends, cuts pay to financially help its staff amid coronavirus pandemic while informing its possible plan of seeking bank loans.

Jean-Dominique Senard, the chairman of Renault, on Friday, 10 April 2020, said that the auto manufacturing company is exploring the options of seeking bank loans “worth 4-5 billion euros”, which is equivalent to “$4.4-$5.4 billion”, reported Reuters.
Talking to RTL radio, Senard said:
“It could be in that sort of region”.
While, he also reiterated that right now Renault was not thinking of any situation wherein the company would be nationalised by the French state. Moreover, yesterday, Thursday, April 09, 2020, the company “cancelled its dividend” while informing that the interim C.E.O, Clotilde Delbos, along with Senard had backed the decision to cut pays in a gesture to support a “solidarity fund” aimed to help the staff who got affected by the global coronavirus pandemic.