Turin

Fiat renews 2-bln-euro, 3-year credit line with 9 banks

Replaces 1.95-bln-euro line signed last July

Fiat renews 2-bln-euro, 3-year credit line with 9 banks

Turin, June 21 - Turin-based Fiat has renewed a two-billion-euro, three-year credit-line financed by nine banks, Italy's largest carmaker said on Friday. "The credit line is available for general company requirements and for any needs related to operating capital," the company said. "It is destined to substitute the 1.95-billion-euro, three-year revolving credit line originally signed in July 11. Bloomberg News on June 17 reported the funds will help Fiat fund its merger with Chrysler to create a global auto-making force. Fiat already owns a 58.5% stake in Chrysler and is anxious to purchase the remaining shares to complete a merger with the American automaker, which Fiat rescued from bankruptcy in 2009.

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