Fiat is on a run. With its purchase of Chrysler approved by the bankruptcy court, fans are writing in anticipation of the new Fiat models that will be gracing our shores in the not-to-distant future.
Now Reuters reports that the Italian automaker has raised a total of 1.25 billion euros ($1.77 billion) in a sale of three year bonds. Moreover, Fiat execs volunteered that they cold have raised a lot more because demand for the bonds exceeded 10 billion euros ($14.77 billion).
Analysts say that the yield on the bonds were “very good.” And the sale attracted investors from all over Europe including the United Kingdom, Germany, Italy, Switzerland, and France.
The company, whether it is due to this bond sale or it was a part of its plans, says that it intends to sell more bonds before the end of this year.
In addition, Fiat’s trading profit was up again after two straight quarters of decline and its industrial debt fell from 6.6 million euros ($9.35 million) to 5.7 million euros ($8.08 million).
