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Stellantis Said to Repay Early Italy-Backed $7 Billion Loan

  • Carmaker may pay off credit facility as early as this week
  • Loan was granted to help with fallout from the pandemic
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Stellantis Plans to Boost Maserati Quality, Profitability: CEO

Stellantis NV is set to pay off a 6.3 billion euro ($7 billion) credit facility backed by an Italian state guarantee as early as this week, more than a year ahead of its original due date, according to people familiar with the deliberations. 

The move to close out the credit facility with Italy’s top lender Intesa Sanpaolo SpA is aimed at reducing financing costs, the people said, asking not to be named because the plan isn’t public. The carmaker formed from the merger of PSA Group and Fiat Chrysler was using the funds to support its activities in Italy, and has been benefiting from high levels of cash and synergies from the merger, they said.