Truck and heavy machinery maker, Fiat Industrial, will raise €2.2 billion in a bond issue, Reuters reports. The issue will consist of a four-year tranche worth €1 billion and a seven-year tranche of €1.2 billion.
Fiat Industrial, which spun off from automaker Fiat, has to refinance a €2.2 billion bridge loan. Banca IMI, Barclays, BNP Paribas, Credit Agricole, Citi, Royal Bank of Scotland, Societe Generale and UniCredit are the banks involved.