Stellantis prepays €6.3bn Italian state-guaranteed loan By Reuters

© Reuters. FILE PHOTO: The Stellantis logo is seen in this image provided November 9, 2020. FCA/Handout communication via REUTERS/File Photo

ROME (Reuters) – Automaker Stellantis said on Friday its FCA Italy unit and other Italian subsidiaries had repaid a 6.3 billion euro ($7 billion) loan to major Italian lender Intesa Sanpaolo (OTC: ).

The loan was “instrumental in restarting industrial production (after the COVID-19 outbreak) and ensuring the continuity of key investment projects,” the company said in a statement.

He added that Stellantis was now able to repay it, ahead of its March 2023 maturity.

The loan, granted in June 2020, had a maturity of three years and the export credit agency SACE provided a guarantee for 80% of its amount.

($1 = 0.8981 euros)

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