Fiat Chrysler gets bridge loan in place as HY remains shut
Italian-American car company Fiat Chrysler Automobiles has signed a €3.5bn bridging facility, as the company becomes the latest to secure bank funding while it waits for calmer times in the capital markets.
Crossover credit Fiat Chrysler, rated Ba1/BB+/BBB-, signed the bridge financing from two banks.
The facility has a 12 month maturity and can be extended, at the company's request rather than the banks', by another six months.Fiat Chrysler issues bonds as a high yield name, and that market continues to ...
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