RTTNews | Jan 28, 2022 06:34AM EST

06:34 Friday, January 28, 2022 (RTTNews.com) - Stellantis N.V. (STLA), comprising Fiat Chrysler Automobiles N.V. and France's Peugeot S.A., announced Friday that FCA Italy S.p.A., and Stellantis' other Italian subsidiaries, have repaid the 6.3 billion euros credit facility to Intesa Sanpaolo (ISNPY.PK, IITSF.PK).

Stellantis said it is now in a position to repay the facility in advance of its original maturity date of March 2023 while continuing its investment projects.

The credit facility, entered into in June 2020, was 80% guaranteed by SACE, Italy's Export Credit Agency, under the Italian Government's Liquidity Decree. It was overseen by the Ministry of Economy and Finance - MEF, and the Ministry of Economic Development - MISE.

The credit facility was structured to support the restart and transformation of Italy's automotive sector after the COVID-19 outbreak by providing liquidity to Stellantis' business in Italy and to its Italian suppliers.

According to the company, the facility was instrumental in the restart of industrial production and provided continuity for key investment projects in Italy.

Read the original article on RTTNews ( https://www.rttnews.com/3258290/stellantis-says-italian-units-repaid-6-3-bln-credit-facility-to-intesa-sanpaolo.aspx)

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