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Auto maker Fiat says a bond issue is possible
June 29, 2009, Monday
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ITALIAN auto maker Fiat is open to issuing a bond for institutional or retail investors, or both, Chief Executive Sergio Marchionne said over the weekend, according to news agency Ansa.
On Friday, Marchionne had said reports that Fiat might launch a bond of around 1 billion euros (US$1.4 billion) were "rumors."
"We will announce it when we announce it," he added.
Asked at an event in Venice whether Fiat would be willing to issue a bond for the retail or institutional market, Marchionne said: "We are open to doing either, or a mix."
"With the interest rates that are around at the moment, it could be a big deal for everyone," he added.
Italian oil company ENI said last Friday that offers for its retail bond topped 5.8 billion euros compared with a maximum offer amount of 2 billion euros.
Marchionne also said it was premature to discuss any plans regarding production at its joint venture plant near Valenciennes in France with PSA Peugeot Citroen.
Fiat has taken a 20 percent stake in United States-based Chrysler and Marchionne is working on a plan for the car maker's product offer.
Daily Il Giornale had cited rumors the Fiat-Chrysler plan could see the platform for Chrysler's Voyager model extended to the Phedra, affecting a collaboration Fiat has with PSA.
"The Voyager platform will continue to be American because it was born there," Ansa quoted Marchionne saying.
On Friday, Marchionne had said reports that Fiat might launch a bond of around 1 billion euros (US$1.4 billion) were "rumors."
"We will announce it when we announce it," he added.
Asked at an event in Venice whether Fiat would be willing to issue a bond for the retail or institutional market, Marchionne said: "We are open to doing either, or a mix."
"With the interest rates that are around at the moment, it could be a big deal for everyone," he added.
Italian oil company ENI said last Friday that offers for its retail bond topped 5.8 billion euros compared with a maximum offer amount of 2 billion euros.
Marchionne also said it was premature to discuss any plans regarding production at its joint venture plant near Valenciennes in France with PSA Peugeot Citroen.
Fiat has taken a 20 percent stake in United States-based Chrysler and Marchionne is working on a plan for the car maker's product offer.
Daily Il Giornale had cited rumors the Fiat-Chrysler plan could see the platform for Chrysler's Voyager model extended to the Phedra, affecting a collaboration Fiat has with PSA.
"The Voyager platform will continue to be American because it was born there," Ansa quoted Marchionne saying.
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