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FCA Announces Signing of an Incremental Credit Facility of € 3.5 Billion
March 30, 2020
Source: Yahoo Finance
Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MTA: FCA) (“FCA”) announced today that it has entered into a new credit facility (“Credit Facility”).
The Credit Facility, entered into with two banks, will be available for general corporate purposes and for working capital needs of the Group and is structured as a bridge facility to support the Group’s access to capital markets.
The Credit Facility may be drawn in a single tranche of €3.5 billion, with an initial 12-month term which can be extended at the Company’s option for an additional 6-months’ term on the first anniversary of the signing.
The Credit Facility is additional to the Company’s existing credit facilities of €7.7 billion including the Bi-lateral credit lines worth €1.5 billion that the Company has started to draw down.
This transaction confirms the continued strong support of FCA’s international key relationship banks’ in the current extraordinary circumstances.
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