MILAN, June 15 Italian carmaker Fiat
said on Sunday its board had approved issuing one or more bonds
for a total of up to 4 billion euros ($5.45 billion) - or
equivalent amount in other currencies - to be placed with
In a statement, Fiat said the bonds may be issued in one or
more tranches, also through controlled companies, on or before
Dec. 31, 2015, subject to market conditions.
"Such issuances are designed to manage the consolidated debt
of the group especially in view of some of the older bond
issuances coming due between now and the end of 2015," Fiat
It did not provide more details.
In a separate statement, the company said its board had
approved the merger plan with Chrysler, already announced in
The merger is subject to approval of a shareholder meeting
which will be convened in the third quarter of the year, Fiat
said without giving a date.
The transaction is expected to be completed by year-end.
($1 = 0.7345 Euros)
(Reporting by Silvia Aloisi)