Stock Groups

Stellantis repays 6.3 billion euro Italy state-backed loan in advance -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This November 9th, 2020 image shows the logo for Stellantis. Communication FCA/Handout via REUTERS/File photo

ROME (Reuters) – Carmaker Stellantis announced Friday that its Italian unit FCA Italy had repaid a loan of 6.3 billion euros ($7 billion) to Italy’s largest lender Intesa Sanpaolo.

In a statement, the company stated that the loan had been “instrumental” in restarting industrial production following the COVID-19 pandemic and gave continuity to key investment projects.

Stellantis, it said, was in a better position to repay the loan than its maturation in March 2023.

This loan was granted June 2020 and had a maturity of three years. Credit export agency SACE guaranteed 80%.

($1 = 0.8981 euros)

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses that you may incur due to the use of these data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this website’s data including quotes, charts, or buy/sell signal information. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]