Chrysler has set the offer price for the two bonds worth a total of 2,7 billion dollars, the issues of which were reopened yesterday. The first placement took place in 2011. This was communicated in a note released by Fiat.
Specifically, these are two senior bonds: the first, with a nominal amount of 1,375 billion dollars, expires in 2019 and will pay 108,25% of the nominal value. The second, maturing in 2021, offers 110,50% of its nominal value, for an amount of 1,380 billion dollars. The issue prices represent a yield to maturity of respectively 6,165% and 6,433% per annum.
Chrysler Group, again according to the note from Fiat, will also increase its existing guaranteed senior loans by 250 million dollars, under which it will borrow funds at a rate equal to Libor +2,75%, with a minimum value of Libor rate of 0,75%. In addition, the Fiat subsidiary will sign a new senior secured loan in the amount of $1,75 billion.
