FCA announces signing of an incremental credit facility of € 3.5 billion
March 26 2020 - 8:21AM
FCA announces signing of an incremental credit facility
of € 3.5 billion
Fiat Chrysler Automobiles N.V. (NYSE: FCAU /
MTA: FCA) (“FCA”) announced today that it has entered into a new
credit facility (“Credit Facility”).
The Credit Facility, entered into with two
banks, will be available for general corporate purposes and for
working capital needs of the Group and is structured as a bridge
facility to support the Group’s access to capital markets.
The Credit Facility may be drawn in a single
tranche of €3.5 billion, with an initial 12-month term which can be
extended at the Company’s option for an additional 6-months’ term
on the first anniversary of the signing.
The Credit Facility is additional to the
Company’s existing credit facilities of €7.7 billion including the
Bi-lateral credit lines worth €1.5 billion that the Company has
started to draw down.
This transaction confirms the continued strong
support of FCA’s international key relationship banks’ in the
current extraordinary circumstances.
London, 26 March 2020
This press release contains forward-looking
statements. These statements are based on the Group’s current
expectations and projections about future events and, by their
nature, are subject to inherent risks and uncertainties. They
relate to events and depend on circumstances that may or may not
occur or exist in the future and, as such, undue reliance should
not be placed on them. Actual results may differ materially from
those expressed in such statements as a result of a variety of
factors, including: volatility and deterioration of capital and
financial markets, including possibility of new Eurozone sovereign
debt crisis, changes in commodity prices, changes in general
economic conditions, economic growth and other changes in business
conditions, weather, floods, earthquakes or other natural
disasters, changes in government regulation, production
difficulties, including capacity and supply constraints, the impact
of COVID-19 developments including the impact on supply chains, our
production, demand in our end markets, as well as the broader
impact on financial markets and the global economy, the Group’s
ability to complete and realize expected synergies following
completion of the Group’s proposed merger with Peugeot S.A. (“PSA”)
including the expected cumulative implementation costs, and many
other risks and uncertainties, most of which are outside of the
Group’s control.
- FCA announces signing of an incremental credit facility of €
3.5 billion
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