PARIS (Reuters) – Stellantis announced on Friday the early repayment of a 6.3 billion euro loan guaranteed by the Italian state granted to Fiat Chrysler in 2020, thus confirming information published the day before by Reuters.
This three-year loan was granted to the manufacturer in June 2020 at the height of the COVID-19 epidemic, by the Intesa Sanpaolo bank and the Italian export credit agency SACE had guaranteed 80% of it. Fiat Chrysler has since merged with French PSA to form Stellantis.
“Stellantis is now able to repay the credit line before its original maturity date of March 2023 while continuing with its investment plans,” the group said in a statement.
This reimbursement allows, among other things, Stellantis to free itself from the conditions attached to the loan, starting with the maintenance of employment on its sites in Italy.
(Written by Jean-Stéphane Brosse and Marc Angrand)
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