Fiat intends to increase the 600 million euro guaranteed bond with a fixed coupon of 7,75% and maturing in October 2016. In fact, Lingotto announced in a press release its intention “to proceed with the reopening of the bond loan, issued on 16 July 2012 by Fiat Finance and Trade Ltd, a wholly owned subsidiary of Fiat, as part of the Global Medium Term Notes program guaranteed by Fiat SpA”
Still to be established, reads the note, "The final terms of the reopening" which will be defined at the time of pricing, "based on market conditions. In the event of reopening, Fiat Finance and Trade Ltd will request the listing of the new securities issued, as well as admission to trading on the Irish regulated market (Irish Stock Exchange)”.
In the morning, the Fiat share lost 0,76% to 3,386 euros per share.
