Fiat Chrysler has arrange a $3.84 billion emergency credit score facility because it makes an attempt to handle by means of the coronavirus pandemic that has pressured it to shutter a lot of its operations globally.

The Italian-American automaker stated Thursday the funds can be accessible for "basic company functions and for working capital wants."

The credit score facility, with two unnamed banks, is structured as a bridge facility, or short-term mortgage. Funds might be drawn in a single tranche, with an preliminary 12-month time period which might be prolonged on the firm's choice for a further 6-month phrases.

Shares of Fiat Chrysler have been down by about 1.5% in pre-market buying and selling following the announcement. The inventory is down 49.4% to this point this yr and 49.7% over the previous...