Fiat launches 824 mln euro auto loan-backed bond

Newswire

LONDON, July 23 (Reuters) - Italian automaker Fiat launched an 824 million euro bond on Tuesday backed by its customers' car loan repayments, the lead managing banks said. The deal was launched via special purpose vehicle European Auto Securitisation 2002, and is secured on car loan repayments by Spanish and French customers. With investor anxiety about Fiat's future and corporate credit quality in general running high, the deal launched with yields higher than those originally indicated. ...

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