Fiat Finalizing EUR4B Loan Details Ahead Of Demerger -Sources

25th Jun 2010 14:30

By Carol Dean and Sabrina Cohen Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Fiat SpA (F.MI) is in talks with six banks to finalize details of a EUR4 billion financing deal as the Italian industrial group prepares to split itself into two, people familiar with the situation said Friday. The talks involve a EUR1.5 billion revolving credit facility and an up to EUR2.2 billion bridge loan to a bond offering that will be issued by the Italian carmaker in coming months, the people told Dow Jones Newswires. Fiat is seeking a five-year maturity on the revolving credit facility, while banks are looking for a three-year maturity, one of the people said. "Certain details have still to be ironed out," this person said. -By Carol Dean and Sabrina Cohen, Dow Jones Newswires; 44 20 7842 9306; [email protected] (END) Dow Jones Newswires June 25, 2010 09:30 ET (13:30 GMT)