Fiat Chrysler negotiates €4.8 billion revolving credit facility

By Toni Weeks

San Luis Obispo, Calif., June 9 – Fiat Chrysler Automobiles NV said it entered into a €4.8 billion syndicated revolving credit facility with 12 bookrunner banks, according to a press release.

The facility replaces and expands the company’s €2.1 billion three-year revolving credit facility dated June 21, 2013 and subsidiary FCA US LLC’s $1.3 billion five-year revolving credit facility dated May 24, 2011.

The revolving facility is comprised of two equal tranches of €2.4 billion each.

The first tranche is immediately available and has a 37-month tenor with a one-year and an 11-month extension option, exercisable on the first and second anniversary of closing, respectively.

The second tranche has a five-year tenor and will be available upon termination of FCA US’s revolving credit facility and following the elimination of some terms under the subsidiary’s financing documentation.

The facility will be used for general corporate and working capital purposes and represents a further step toward a unified financial platform for the group, the release said.

Fiat Chrysler is a London-based automaker.

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