Clifford Chance has advised on two multibillion-euro financing deals in France, designed to help shore up the ability of French companies to withstand the economic impact of the COVID-19 crisis.

The firm advised Renault on the establishment of a €5 billion credit facility with a pool of French banks consisting of BNP Paribas, Crédit Agricole, HSBC France, Natixis et Société Générale. The French state will guarantee up to 90% of the total borrowing.