Deals
Marchionne Said Close on Fiat-Chrysler Refinancing Agreement
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Sergio Marchionne, chief executive officer of Fiat SpA and Chrysler Group LLC, is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies, people familiar with the matter said.
Marchionne is set to sign an agreement with nine banks this month to refinance 1.95 billion euros ($2.6 billion) in Fiat credit, said two people familiar with the matter, who asked not to be identified because the talks are private. The CEO is also seeking to reduce the rate on a $2.95 billion term loan at Chrysler, another person said this week.