Groupe PSA obtains additional €3 billion syndicated loan

By Wendy Van Sickle

Columbus, Ohio, April 6 – Groupe PSA entered into a new €3 billion syndicated loan in addition to its existing €3 billion undrawn confirmed line of credit for a total amount of €6 billion, according to a news release.

The loan has an initial maturity of 12 months with two optional three-month extensions.

“This operation reinforces our ability to face up this exceptional situation and prepare the future,” Philippe de Rovira, chief financial officer of Groupe PSA, said in the release. “It also proves the confidence of our partner banks in the financial strength and recognized resilience of Groupe PSA.”

The company is a Paris-based automaker.

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