Fiat Chrysler wraps syndication of €3.5 billion one-year bridge loan among 13 banks

By Rebecca Melvin

New York, April 14 – Fiat Chrysler Automobiles NV said it has completed syndication of its new €3.5 billion credit facility among 13 banks, including the two original underwriting banks, according to a press release.

The credit facility, entered into on March 25, may be drawn in a single tranche with an initial 12-month term. The maturity may be extended at the company’s option for an additional six months on the first anniversary of the signing.

The new loan will be available for general corporate purposes and for working capital needs and is structured as a bridge loan to support the group’s access to capital markets.

The company said this transaction confirms the continued strong support of its international key relationship banks in the current extraordinary circumstances.

The facility is in addition to the company’s existing credit facilities of €7.7 billion, including the bilateral credit lines worth €1.5 billion that the company has started to draw down.

Fiat Chrysler is an Auburn Hills, Mich.-based automaker.

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