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FCA gathers more cash from bonds offering

FCA gathers more cash from bonds offering

Fiat Chrysler Automobiles, the world’s seventh largest automaker, has an ambitious five-year expansion plans that includes investments of almost $50 billion. And because automakers actually don’t have such massive cash hoards lying around, the financing needs to come from some place. For example, the latest move by FAC was to […]

Russia steps in and guarantees for truck maker Kamaz

Russia steps in and guarantees for truck maker Kamaz

The country’s government has moved to announce it will back the Russian company by guaranteeing $1 billion of its future debt, a move inside a larger state initiative to support ailing auto manufacturers. Russia, the second-biggest auto market in Europe, is seeing a sharp drop in car and truck purchases. […]

US: Chrysler ends its $5 billion debt to VEBA

US: Chrysler ends its $5 billion debt to VEBA

Fiat Chrysler Automobiles announced its Chrysler Group unit managed to sign an agreement that would allow it to raise debt worth $5 billion – which in turn would be used to settle earlier than expected its existing bond due to healthcare trust VEBA. The US automaker also announced it managed […]

Assets of Fisker Automotive to be auctioned this week

Assets of Fisker Automotive to be auctioned this week

Although in 2011 Fisker was among the promising batch of start-ups that wanted to change the traditional automotive order with highly advanced “green” machines, the US automaker collapsed last spring and now its remains will be auctioned off. Today, very few employees still go to work at the Fisker Automotive […]

Moody’s Cut Peugeot’s Debt From Ba3 to B1

Moody’s Cut Peugeot’s Debt From Ba3 to B1

Moody’s Investors Service downgraded PSA Peugeot Citroen to four levels below investment grade. Moody’s downgraded Peugeot’s rating to B1 from Ba3, according to Falk Frey, a Frankfurt-based analyst at Moody’s, saying that debt will not be reduced again any time soon. Peugeot, which is the second largest automaker in Europe, […]

Renault Reports Better Than Expected 2012 Profit

Renault Reports Better Than Expected 2012 Profit

Renault reported better than expected profit, as it managed to eliminate debt for the first time since its alliance with Nissan. Renault said that its automotive unit net cash reached 1.49 billion euro ($2 billion) at the end of 2012, compared with a 299 million euro net debt in 2011. […]

Ally Repays Remaining Debt Offered Under US Program

Ally Repays Remaining Debt Offered Under US Program

Ally Financial said it repaid the entire debt offered by the Federal Deposit Insurance Corp’s Temporary Liquidity Guarantee Program. Ally Financial, the former GM auto lending arm, said it repaid $4.5 billion in debt guaranteed by the Federal Deposit Insurance Corp’s Temporary Liquidity Guarantee Program and another $2.9 billion in […]

Selling Saab Won’t Cover the Total Debt

Selling Saab Won’t Cover the Total Debt

Receivers handling Swedish carmaker Saab‘s bankruptcy estate believe that selling the company will not cover the total debt of $1.8 – $1.97 billion. The final bids should end by April 10th, and although a few companies showed interest, the selling of Saab‘s estate – the carmaker Saab and subsidiaries Saab […]