Fiat SpA confirmed Friday that
it is reopening the sale of 500 million euros of bonds maturing
in July 2022 at a fixed rate of 4.25%.
The yield was reduced by 50 basis points from an offer
earlier in summer.
Fiat said orders have exceeded more than one billion euros
on bonds that have been rated B2 by Moody's and BB- by Standard
& Poor's and Fitch.
The bond sale comes only weeks before the debut of the new
Fiat Chrysler Automobiles (FCA) listing on Wall Street, expected
in mid-October.
One final step in the merger process came when Fiat
announced that shareholders who did not approve of the deal had
cashed out shares that totalled less than the 500 million-euro
threshold set by the automaker.
Fiat said Thursday that shareholder had cashed out 463
million euros in equity.
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