Stellantis N.V. announced that FCA Italy S.p.A., a wholly owned subsidiary, and Stellantis’ other Italian subsidiaries, have repaid the €6.3 billion credit facility to Intesa Sanpaolo.
The credit facility, entered into in June 2020, was structured to support the restart and transformation of Italy’s automotive sector after the COVID-19 outbreak by providing liquidity to the Company’s business in Italy and to its Italian suppliers. The facility was instrumental in the restart of industrial production and provided continuity for key investment projects to provide a sustainable future for the automotive sector in Italy. Stellantis is now in a position to repay the facility in advance of its original maturity date of March 2023 while continuing its investment projects.
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The facility was 80% guaranteed by SACE, Italy’s Export Credit Agency, under the Italian Government’s Liquidity Decree (“Decreto Liquidità”), as overseen by the Ministry of Economy and Finance – MEF, and the Ministry of Economic Development – MISE.
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About Stellantis
Stellantis N.V. is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates.
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