OL Groupe: new State-guaranteed loan of €76.4m added to the €92.6m obtained in June

"Olympique Lyonnais (Ligue 1 Uber Eats) has obtained preliminary approval from its bank and bond lenders to implement an additional loan guaranteed by the French government ('PGE'), a so-called 'Season PGE' of €76.4m with a maturity of 12 months. At the end of that period, the Group would be able to exercise a 1-5-year amortisation option," announced OL Groupe, the holding company that owns the club, on 04/12/2020.

This is the second PGE contracted by OL Groupe after the €92.6m PGE (maturity of 12 months with a 1 to 5 year amortisation option also) announced on 23/06/2020. OL will thus continue to benefit from the scheme introduced in March 2020 by the French State for the benefit of companies to help their cash flow to cope with the consequences of the Covid-19 crisis (see below). "The legal documentation is being drafted and could be signed by end-December (2020), provided all conditions precedent are met. The funds would be made available immediately following the closing," said the holding company.

In addition to these two loans, Olympique Lyonnais also benefited from the PGE…