FCA US launches amendment to allow distributions to FCA Group

By Sara Rosenberg

New York, March 7 – FCA US LLC (Fiat Chrysler Automobiles) held its lender call on Monday, launching an amendment to its term loan due in 2017 and term loan due in 2018 that would remove the restriction on distributions to parent company, FCA Group, according to a market source.

With the amendment, lenders would get a $2 billion paydown on the term loans, 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.

Amendment consents are due on Thursday.

Lenders are being offered a 25 basis point consent fee, the source added.

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

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