CMA CGM Secures a €1.05 Billion Loan Guaranteed Up To 70% By The French State

May 15, 2020

Willkie advised CMA CGM in connection with its €1.05 billion loan arranged by a consortium of three banks.

Willkie advised CMA CGM in connection with its €1.05 billion loan arranged by a consortium of three banks (BNP Paribas, HSBC and Société Générale). This loan is part of France's state-guaranteed loan scheme established at the end of March in response to the COVID-19 pandemic.

The French State guarantees 70% of the loan, which has an initial one-year maturity and an extension option for up to five additional years. This new funding further strengthens CMA CGM’s cash position in order to confront uncertainties in the global economy resulting from the health crisis and lockdown measures in a large number of countries.

The Willkie team was led in Paris by partners Daniel Hurstel and Brice Pommiès and included associate Charlène Jouët.