-
May 2025 M T W T F S S « Jan 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 -
NMeda: Motor sports is really for every one. Glad to know »
-
online spiele: Hi there, You have done a fantastic job. I will d »
-
Lily: I do not comment, but after looking at through a f »
-
jd: Reading this I was reminded of the book " »
-
John E.: Thanks. Perhaps you should consider "Guest Posting »
-
DARPA awards Phase 2 SBIR contract for HEV motorcycle prototype
January 20, 2015 By Neville -
Report: Hyundai to cut price of FCV in Korea to compete with Toyota
January 20, 2015 By Neville -
Nissan LEAF is best-selling EV in Europe for fourth year in a row
January 20, 2015 By Neville -
Ford of Europe designer Stefan Lamm joins VW’s Seat brand
January 20, 2015 By Sean -
Ford’s German production to raise as demand rebounds
January 20, 2015 By Sean
-
Fiat Chrysler to issue $2.5 billion bond
Fiat Chrysler Automobiles said on Wednesday it would issue a mandatory convertible bond for $2.5 billion and place up to 100 million of its shares to shore up funding for its €48 billion ($61 billion) investment plan.
Investors participating in the mandatory convertible offering will be entitled to receive shares in luxury carmaker Ferrari as part of a spinoff plan announced earlier on Wednesday.
Exor, the holding company of Italy’s Agnelli family, which controls Fiat Chrysler, said it would invest around €600 million ($765 million) in the bond offering. Exor said the investment will be made by drawing on resources currently available.
The market has long said FCA, with a net debt of €11.4 billion at the end of September, needed to raise capital to strengthen its balance sheet, especially as it is still battling with losses in Europe and a weakening outlook for Latin America.
The world’s seventh-largest carmaker, which moved its primary listing to New York on Oct. 13, said the share issue would include treasury shares and stock that will be issued to offset a buyback of shares from exiting investors as part of the merger into Fiat Chrysler Automobiles.
The group added in a separate statement it would repay ahead of maturity Chrysler bonds due in 2019 and 2021.