MILAN — Stellantis said its unit FCA Italy and other Italian subsidiaries had repaid a 6.3 billion euro ($7 billion) loan to Italy’s top lender Intesa Sanpaolo.
The loan was “instrumental” in the restart of industrial production after the COVID-19 outbreak and provided continuity for key investment projects, the company said in a statement on Friday.
It provided liquidity to the automaker’s business in Italy and to its Italian suppliers, the statement said.
The loan had a three-year maturity and credit export agency SACE provided a guarantee on 80 percent of its amount.
Stellantis said it was now in a position to repay it, ahead of its maturity in March 2023.
The automaker was formed in January 2021 from the merger of PSA Group and Fiat Chrysler. Stellantis’ business in Italy has been benefiting from high levels of cash and synergies from the merger, helping the company to repay the loan.
Italy’s finance ministry approved the loan to Fiat Chrysler in June 2020 to pay workers’ salaries, suppliers and for planned investments at facilities in the country.
Under the terms of the loan agreement, Stellantis was committed to continue production activities in Italy and refrain from reducing the workforce.
Bloomberg contributed to this report
ivermectin tablets for humans – carbamazepine medication order carbamazepine 200mg pills
accutane 40mg over the counter – oral isotretinoin cheap linezolid 600mg
buy zithromax 250mg generic – buy generic tinidazole over the counter order bystolic 5mg online
buy generic prednisolone online – oral prednisolone 10mg order progesterone 100mg sale
buy lasix generic – buy furosemide 100mg without prescription buy betnovate no prescription
brand monodox – monodox order online purchase glucotrol online
buy augmentin 375mg online cheap – buy cymbalta 20mg pills order duloxetine 20mg generic
order tizanidine pills – how to get zanaflex without a prescription buy generic hydrochlorothiazide
viagra 50mg uk – sildenafil otc order cialis 10mg online
cost tadalafil 10mg – order generic viagra 100mg sildenafil on line
This is the type of information I always seek out online; truly educational and helpful.
brand lipitor 80mg – lipitor 10mg cheap prinivil over the counter
The post has got us thinking. We never considered things in that way. The author have enlarged our perspective. Thank you.
You managed to explain a complex subject with simplicity; kudos!