Amundi Asset Management sets up French fonds de financement spécialisé "Prêts Participatifs Relance fund
Clients Amundi Asset Management
Jones Day acted as legal adviser to Amundi Asset Management, in its capacity as one of the delegated asset managers, in connection with the French fonds de financement spécialisé "Prêts Participatifs Relance" ("PPR") set up in May 2021 as part of the COVID-19 support measures, and in particular, the program "France Relance" of the French Ministry of Economy, Finances and Relaunch, providing a specific support for small and medium enterprises and mid-caps under the conditions set forth in the Decree no. 2021-318 dated March 25, 2021 implementing Article 209 of the Finance Law for 2021 no. 2020-1721 dated December 29, 2020. The fund PPR refinances up to 90% quasi-equity loans granted by certain French banks and benefits from the French State Guarantee up to 30% of the aggregate outstanding amount. The fund's investors are French insurers.