Fiat offers 500 million euros in bonds

Sale comes weeks before new automaker to list on Wall Street

(ANSA) - Milan, September 5 - 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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