FGA Capital brings third, tightest €750m this year

By Jon Hay
18 Sep 2014

FGA Capital, the car finance arm of Fiat, returned to the bond market on Monday for its third bond of the year.

The Baa3/BB+/BBB- (all stably) rated company is half-owned by Fiat and half by Crédit Agricole, which provides funding support to it under a joint venture agreement.

As an Italian issuer, linked to one of Europe’s weaker car companies, FGA’s spreads widened steeply during the financial crisis, but it ...

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