Fiat Chrysler gets OK on amendment allowing distributions to FCA Group

By Sara Rosenberg

New York, March 11 – Fiat Chrysler Automobiles NV (FCA US LLC) received lender approval on the amendment to its term loan due in 2017 and term loan due in 2018 that will remove the restriction on distributions to parent company, FCA Group, according to a market source.

The $2 billion paydown on the term loans that lenders are getting as part of the amendment is expected to occur on Tuesday, the source said.

Citigroup Global Markets Inc. is the administrative agent on the 2017 loan, and J.P. Morgan Securities LLC is the administrative agent on the 2018 loan.

Lenders were offered a 25 basis point consent fee.

FCA US is an Auburn Hills, Mich.-based automaker. FCA Group is a London-based automaker.

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