AN: Fiat Wants $10B Refi
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Bloomberg News is reporting that Fiat is working with a group of bankers on a $10 billion package to be used to purchase the 41.5% stake in Chrysler currently owned by the United Auto Workers retiree healthcare trust and to refinance the two companies' existing debt at lower interest rates. Citing unnamed sources, Bloomberg says Bank of America, Deutsche Bank, Goldman Sachs Group Inc. and BNP Paribas SA, are in discussions to fund the loan and there is a possibility that other banks could be added. Bloomberg's sources say Chrysler/Fiat CEO Sergio Marchionne has already received verbal agreements from some of the banks, but a final deal has not been set. One of the obstacles is placing a value on the union trust's holdings. Chrysler and the UAW disagree on the value and the case is currently in the hands of a Delaware judge. His decision is expected by the end of July. A UBS..
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Is that as reliable as availability of the Dart R/T, er GT, Grand Cherokee Diesel or Cherokee AWD?RVC said:According to a quoted statement by FIAT chairman John Elkann, it will happen between now and August.
Given his position i'd say he probably speaks because he knows a thing or two
Mark those words: BETWEEN NOW AND AUGUST.
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