Fiat chairman Umberto Agnelli said on Tuesday the group had not asked creditor banks to revise the terms of a three billion-euro financing line offered last year but changes were possible, according to Reuters.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“We have absolutely not asked for a discussion of the convertible bond,”
Umberto Agnelli told a news conference, adding the banks had not requested a revision either, Reuters said.
But Agnelli added, according to the news agency: “I think the banks have the most interest in reopening discussions. We’re interested too in resolving this problem with the banks in the best possible way.”
According to Reuters, the Financial Times said on Tuesday that Fiat had asked the banks to transform the convertible loan into ordinary debt to clarify Fiat’s capital structure and prepare way for a rights issue and the presentation of a rescue plan at the end of June.
