Goal : “reinvest, rehire, recreate jobs”. A total of 11 billion euros in participatory loans to support the recovery of the French economy, weighed down by the Covid-19 pandemic, will be made available to companies from the beginning of May, announced Monday April 26 the Minister of the Economy, Bruno Le Maire, guest of Europe 1.
The principle of these participatory loans, which mobilize a State guarantee of up to 30% of capital losses, was validated in early March by the European Commission as State aid. Distributed by banks, these loans will be spread over eight years with a grace period of four years, recalled Bruno Le Maire.
A loan of up to 12.5% of turnover
The Ministry of the Economy explained that it was a first round table and that there would be a second in June for equity loans, as well as another in the coming weeks on subordinated bonds. . According to the ministry, it is “the most important private fundraising for a debt fund in Europe for direct investments in companies”, excluding indirect investments, when a fund redeems units from other funds which have (…)
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