Fiat Chrysler $3 billion notes issue

Overview:

• Fiat Chrysler Automobiles issued $3 billion in high-yield senior debt.
• This included the offer of $1.5 billion 4.5% senior notes due 2020 and $1.5 billion of 5.25% senior notes due 2023.
• As a result of this offer, FCA US was able to redeem $2.875 billion of secured senior notes due 2019. 
• JP Morgan Securities and BofA Merrill Lynch led the initial purchasers. 
• JP Morgan Securities, BofA Merrill Lynch, Barclays Capital, Citigroup Global Markets, Goldman Sachs, Morgan Stanley and UBS Securities acted as joint bookrunning managers.

Rani Mehta - Journalist