Stellantis repays 6.3 billion euro Italy state-backed loan in advance
7:17 am Friday, January 28th, 2022
ROME (Reuters) – Carmaker Stellantis said on Friday 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.
It added that Stellantis was now in a position to repay it, ahead of its maturity in March 2023.
The loan, granted in June 2020, had a three-year maturity and credit export agency SACE provided a guarantee on 80% of its amount.
($1 = 0.8981 euros)
(Reporting by Giulia Segreti; editing by Agnieszka Flak)
