Fiat Chrysler gets bridge loan in place as HY remains shut

Fiat Parking
By Mike Turner
30 Mar 2020

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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