Fiat in €1.25 Billion Bond Offering

September 7, 2009

Cleary Gottlieb acted as Italian, U.S. and International counsel to issuer Fiat Finance and Trade Ltd., société anonyme and guarantor Fiat S.p.A. in Fiat Finance and Trade’s sale of €1.25 billion of three-year notes bearing a fixed coupon of 9.00%. The notes were issued under Fiat’s €15 billion Reg S/Rule 144A Global Medium Term Note (GMTN) program. Cleary Gottlieb also represented long-time client Fiat and each of the eligible issuers under the program (Fiat Finance and Trade, Fiat Finance North America and Fiat Finance Canada) in connection with the update of the program in May.

The offering was launched one day after Fiat’s release of its financial results for the second quarter of 2009, and was the first capital markets transaction by the Fiat Group since the completion of the global strategic alliance that saw the Italian company acquire a significant equity stake in the “New Chrysler” in June. The transaction closed on July 28.

Fiat S.p.A., the parent company of one of Italy’s largest industrial groups, is engaged principally in the manufacture and sale of automobiles, commercial vehicles, agricultural and construction equipment, and other automotive-related products and systems. Fiat Finance and Trade is a finance vehicle wholly owned by Fiat S.p.A.