Fiat to meet with creditor banks on Nov 27-sources

Newswire

MILAN, Nov 19 (Reuters) - Italian automaker Fiat will meet on November 27 the eight banks that provided it with a three billion euro loan in July 2002, financial sources said on Wednesday, confirming press reports. The loan, which expires in 2005, could be convertible into Fiat shares if some debt-related targets are not met, and there has been speculation that the banks, which are not eager to end up with a stake in Fiat, could seek to modify its terms. "The meeting is at a technical ...

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