FCA Secures $3.8B Credit Facility Amid Coronavirus Pandemic
March 26, 2020
Fiat Chrysler Automobiles has entered into a new 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.