As part of the cash preservation plan announced on March 23, and updated April 15, Europcar has finalizated the second tranche of its Spanish State guaranteed program, with new three-year maturity lines for a global amount of 31.25 million euros for its two operating subsidiaries in Spain.
This will consolidate the Group's liquidity to enable it to meet its vehicle financing needs and its corporate needs related to the impacts of the COVID-19 pandemic. Europcar is continuing its negotiation with some of its lending banks to obtain additional financing guaranteed by the French State via the BPI.
The Group is also continuing its efforts through its foreign subsidiaries in countries where similar support measures have been deployed. The outcome of these initiatives will be communicated in due course.
Euopcar will release Quarter 1 results May 5, after the closing of the stock exchange.