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 The notes, which carry a coupon of 8 percent, were redeemed at a
price equal to their principal amount plus the applicable premium
and any accrued and unpaid interests, according to the filing.
Fiat completed the buyout of its U.S. unit last year but needs to
refinance all of Chrysler's bonds and past credit agreements before
it can gain full access to the unit's cash. After this payment, FCA
still has to repay or refinance Chrysler bonds due in 2021 and
renegotiate other credit agreements.
Having full access to Chrysler's money will help FCA carry out an
ambitious five-year investment plan that includes spending 48
billion euros ($55 billion) to 2018 to boost sales by 60 percent to
7 million cars and increase net profit five-fold.
(Reporting by Agnieszka Flak; Editing by Elaine Hardcastle)
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