PSA has signed an additional EUR3bn (US$3.2bn) syndicated loan in addition to the existing EUR3bn undrawn confirmed line of credit for a total amount of EUR6bn in the light of the coronavirus situation.

The syndicated 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,” said PSA CFO, Philippe de Rovira.

“It also proves the confidence of our partner banks in the financial strength and recognised resilience of Groupe PSA.”