Fiat is ready to place new bonds on the market. After the publication of the data on registrations and after the right of withdrawal has not exceeded the barrier of 500 million euros, effectively giving the green light to the Fiat-Chrysler merger, Lingotto takes advantage of the rise in quotations on the bond market to make new supply.
The Turin-based automotive group therefore intends to proceed, subject to market conditions, with the reopening of the bond loan of 850 million euros with a fixed coupon of 4,75% and maturing in July 2022 (XS1088515207), issued on 15 July by the subsidiary Fiat Finance & Trade within the Global Medium Term Notes program guaranteed by the parent company.
This is learned from a note where it is explained that the final terms of the reopening will be defined at the time of pricing, based on market conditions. Market indications indicate that the size could be at least 150-200 million euros. In the event of reopening, Fiat Finance & Trade will request the listing of the new securities issued, as well as admission to trading on the Irish regulated market (Irish Stock Exchange).
Stable in the middle of the day the performance of the Fiat share in Piazza Affari, where after 14 pm it is practically on par with +0,07% at 7,585 euro.
