Stellantis repays Italian 80/20 guarantee financing (nearly $7 billion U$D)

[AlexB]

FCA approved for 6.3 billion EUR Loan for FCA Italy with 80% guaranteed by Italy. How it stacks up to other FIAT/Chrysler guarantees/recues...

Italy has approved a decree offering state guarantees for a 6.3-billion euro ($7.1 billion) loan to Fiat Chrysler’s (FCA) (FCHA.MI) Italian unit, the Treasury said on Wednesday, paving the way for the largest crisis loan to a European carmaker. The formal announcement follows an endorsement by...

moparinsiders.com

“Carmaker Stellantis (STLA.MI), said on Friday its unit FCA Italy and other Italian subsidiaries had repaid a 6.3 billion euro ($7 billion) loan to Italy's top lender Intesa Sanpaolo (ISP.MI).”

“The loan was "instrumental in the restart of industrial production (after the COVID-19 outbreak) and provided continuity for key investment projects", the company said in a statement.”

Stellantis repays 6.3 billion euro Italy state-backed loan in advance

Carmaker Stellantis , said on Friday its unit FCA Italy and other Italian subsidiaries had repaid a 6.3 billion euro ($7 billion) loan to Italy's top lender Intesa Sanpaolo .

www.reuters.com