Fiat Chrysler Italian unit signs three-year €6.3 billion facility

By Wendy Van Sickle

Columbus, Ohio, June 24 – Fiat Chrysler Automobiles NV’s FCA Italy SpA subsidiary has signed a three-year €6.3 billion credit facility with Intesa Sanpaolo, according to a press release.

Proceeds will be dedicated to the company’s activities in Italy and to support the more than 10,000 small and medium enterprises that make up the Italian automotive sector.

The facility will be 80% guaranteed by Italy’s Export Credit Agency, under the Italian Government’s liquidity decree, as overseen by the Ministry of Economy and Finance.

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

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