Fiat Chrysler bolsters cash with $3.8 billion syndicated credit

spike

FILE PHOTO: A Fiat Chrysler Automobiles (FCA) sign is at the U.S. headquarters in Auburn Hills, Michigan, U.S. May 25, 2018. REUTERS/Rebecca Cook/File Photo

MILAN (Reuters) – Fiat Chrysler (FCHA.MI) said on Tuesday it had successfully completed the syndication of a 3.5 billion euro ($3.8 billion)credit facility which it had agreed last month with two banks.

With most of their plants around the world closed and global car demand badly hit by the coronavirus crisis, automakers such as Fiat Chrysler (FCA) are seeking to boost their cash reserves.

FCA said it had completed the syndication with a group

Read More