Fiat Chrysler Automobiles : FCA Bank prices Eur 850 million debt offering
January 10, 2018 at 08:24 pm IST
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FCA Bank acting through its Irish Branch successfully priced today a Eur 850 million offering of unsecured senior debt securities due June 2021, with a floating rate coupon set at 3-month Euribor + 33 bps.
This issuance represents the return to the floating rate public Eurobond market since 2015, which, with a first coupon yield close to 0%, represents a new record for FCA Bank.
The transaction attracted an order book of over Eur 2,5 billion from more than 170 investors.
This transaction further strengthens the group's funding position and confirms the investors' confidence in FCA Bank.
Turin, 10 January 2018
FCA Bank
FCA Bank is a bank operating mainly in the motor financing sector aimed at satisfying all mobility requirements and is a joint venture between FCA Italy, part of Fiat Chrysler Automobiles, the global automotive group and Crédit Agricole Consumer Finance a major player in the consumer finance market. The company manages most of the financial activities to support the sales of prestigious automotive brands in Europe. Financial and leasing programs are operated by FCA Bank and specifically designed for the dealer networks and private customers as well as for business fleets.FCA Bank SpA is present in 18 European countries either directly or through its subsidiaries.As of 30 June 2017 FCA Bank reported a portfolio of outstanding loans worth €22.7 billion.
Fiat Chrysler Automobiles NV published this content on 10 January 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 January 2018 14:54:07 UTC.
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Stellantis N.V. is one of the world's leading car manufacturers. The activity is essentially organized around 4 sectors:
- sales of passenger cars and light commercial vehicles: Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys brands;
- sale of luxury vehicles: Maserati and DS Automobiles brands;
- sale of automotive equipment: interior systems, car seats, car exteriors, emission control systems, etc.;
- other: sales financing services (purchase, rental, leasing, etc.), after-sales services, etc.; - other: sales financing services (purchase, rental, leasing, etc.).
Net sales are distributed geographically as follows: the Netherlands (0.8%), North America (46.7%), France (9.5%), Brazil (7.3%), Italy (6.2%), Germany (5.5%), the United Kingdom (4.4%), China (0.6%) and other (19%).