#BanquePsa

Europe’s second biggest automaker, PSA Peugeot Citroen, has gotten approval from the European Union for the French government to guarantee $9.28 billion (7 billion Euros) in bonds to provide Banque PSA Finance, the car maker’s finance arm, with funds so they can sell cars on credit at competitive interest rates.

After approving a $1.6 billion loan guarantee for PSA’s captive finance arm, the European Commission demanded a restructuring plan for all of PSA within six months.