CMA CGM Group has secured a €1.05bn (US$1.13bn) loan guaranteed up to 70% by the French state, as part of the government’s loan scheme established at the end of March in response to the COVID-19 pandemic.
The syndicated loan, which is from a consortium of three banks comprising BNP Paribas, HSBC and Société Générale, has an initial one-year maturity and an extension option for up to five additional years.
Rodolphe Saadé, chairman and CEO of the CMA CGM Group, said: “I would like to thank the French authorities for having introduced this scheme so effectively and quickly.
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