EU regulators approve $24 billion French scheme to help virus-hit companies

EU regulators approve $24 billion French scheme to help virus-hit companies

EU regulators approve $24 billion French scheme to help virus-hit companies© Reuters. FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels

BRUSSELS (Reuters) – EU competition enforcers on Thursday cleared a 20-billion-euro ($24 billion) French scheme to help virus-hit companies via loans, subordinated debt.

The European Commission said the scheme consists of a state guarantee on private investment vehicles, funded by private investors, that will acquire participating loans distributed by commercial banks as well as subordinated bonds, aimed at improving their capital position.

The French state guarantee will cover up to 30% of loans and subordinated bonds to be acquired by private investment vehicles and that these must be issued before June 30, 2022 with a maturity of 8 years.

($1 = 0.8294 euros)

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Category Latest Posts