Fiat Seeks $6.8 Billion State-Backed Loan to Weather Crisis
Photographer: Daniel Leal-Olivas/AFP via Getty Images
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Fiat Chrysler Automobiles NV is in talks to obtain a state-backed credit line of about 6.3 billion euros ($6.8 billion) to buttress the carmaker’s finances against the steep downturn caused by the coronavirus, according to people familiar with the matter.
Fiat’s local unit is discussing the facility with lead lender Intesa Sanpaolo SpA, the people said, asking not to be named because the matter is private. Sace SpA, Italy’s trade-credit insurer, will provide a public guarantee for 80% of the amount, they said.