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Europcar gets 307 million euros in financing to cope with COVID-19 crisis - Metro US

Europcar gets 307 million euros in financing to cope with COVID-19 crisis

The logo of car rental company Europcar is seen at Zurich Airport

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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