Following the announcement of its intention to reopen the € 850 million 4.75% notes maturing July 2022 and issued on 15 July 2014, Fiat S.p.A. confirms that:
- the increase will be of € 500 million in principal amount, and
- the issue price will be equal to 103.265% of the principal amount, with a yield to maturity of 4.25%, reduced by 50 bps compared to the original issuance.
The settlement of the offering is currently expected on 9 September 2014. The notes will be issued by Fiat Finance and Trade Ltd, S.A., a wholly-owned subsidiary of Fiat S.p.A., under the Global Medium Term Note Programme guaranteed by Fiat S.p.A.. The reopening was very well received and orders were significantly higher than the amount of the offering.
