2004 Chrysler Sebring on 2040-cars

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Ferrari borrows $2.6 billion to finance FCA spinoff

Ferrari announced Monday that it is borrowing about $2.6 billion to finance its spinoff from Fiat Chrysler Automobiles. Here's how it breaks down: Ferrari NV, the automaker's parent company based in the Netherlands, is taking out loans totaling 2.5 billion euros. That's equivalent to $2.64 billion at current exchange rates, and is divided between a term loan of $2.12 billion and a revolving credit facility of $529 million. The larger term loan "will be used to refinance indebtedness owing to Fiat Chrysler Automobiles," among other purposes. That ought to constitute the lion's share of the $2.38 billion which the Prancing Horse marque was, according to reports last year, slated to pay its current parent company in order to help FCA fund its ambitious growth plans. The separate line of credit is earmarked "to be used from time to time for general corporate and working capital purposes of the Ferrari group." Though Ferrari is not expected to take any other Fiat Chrysler properties with it, the "group" in this case would include its various financial services and distribution arms around the world that may have been separately incorporated. As noted in the statement below, the financial arrangement "represents a further step towards the separation of Ferrari from the FCA Group," following the separate stock issues from both companies as independent from each other. FERRARI N.V. SIGNS ˆ2.5 BILLION SYNDICATED CREDIT FACILITY Ferrari N.V. (NYSE: RACE) ("Ferrari") announced today that it has entered into a ˆ2.5 billion syndicated loan facility with a group of ten bookrunner banks. The facility comprises a bridge loan (the "Bridge Loan") and a term loan (the "Term Loan") of ˆ2 billion in aggregate and a revolving credit facility of ˆ500 million (the "RCF"). Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler AutomobilesN.V. (NYSE: FCAU) ("FCA") and other indebtedness and for other general corporate purposes. Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity with an option for Ferrari to extend once for a six-month period. Ferrari intends to refinance the Bridge Loan prior to its maturity with longer term debt, including through capital markets or other financing transactions. The Term Loan, which comprises a majority of the total facility, and the RCF each have a maturity of five years.

2022 Chrysler 300 gains a little, loses a little

Like an old player who will do anything to keep playing the game, the Chrysler 300 returns in 2022 to limp through another round in the sales arena. No one will be surprised to find out Chrysler doesn't have much in mind for the sedan that still stands out for being unlike segment competitors. The Touring, Touring L, and S trims carry over, and they all stick with Uconnect 4C on an 8.4-inch touchscreen, not the upgraded Uconnect 5 infotainment introduced this year that even the fleet-only 2022 Voyager gets. They are also fitted with the new air filtration system going into every Chrysler product, which removes 95% of particulates from the air. Otherwise, the entry-level model goes untouched. The Touring L gets the $995 Sport Appearance Package as standard equipment next year, which gussies the four-door up with a performance front fascia in body color with Black Noise badges, black pockets in the headlights, LED fog lamps, black LED taillights, black chrome moldings and 20-inch Black Noise wheels instead of the standard 18-inchers in polished aluminum.  Next year's 300S makes the Popular Equipment Group standard equipment, an option that costs $3,495 on the 2021 model. This includes navigation, a dual-pane sunroof, and nine-speaker Alpine audio with a 506-watt amplifier, surround sound and a sub in the trunk.   The $1,995 Comfort Group hold steady on the options list next year, its 15 features increased with the addition of a new alarm system.  Chrysler's trimmed other options that were available on the current model year before the order books closed this month. Amethyst and Canyon Sunset exterior colors are gone, so too is the Driver Convenience Group and its universal garage door opener. Mopar Insiders says the only interior choices next year will be Black, and Black with Linen, which would mean the retirement of Black Smoke and Radar Red. Production for the 2021 models will continue until December at the latest. The 2022 sedans are expected on dealer lots early next year. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Chrysler Pacifica's Fam Cam is a great feature that needs to be on more cars

The CDC and various other official entities encourage or demand parents to place their children in a rear-facing child seat from birth until the ages of 2 to 4. That obviously means a driver or front passenger cannot see them, necessitating a mirror that you can see from the car's rearview mirror. As someone who constantly moved his son's rear-facing child seat between different cars every week, I can firmly recommend a mirror like this with a swivel base, as it is so much easier than others to mount and adjust.  But you know what's better than a mirror? The Chrysler Pacifica's "Fam Cam." In between the second and third rows, in the middle of the van, is a little glossy black disk in the ceiling that contains cameras that display images of second and third rows. There are daylight color and night time infrared camera views as well (although the daylight one makes certain darker colors look lilac purple). You can also enlarge one of the outboard second-row seats for a better view. Any of these above options allows you to see your children many times better than is possible with a mirror, especially at night. Just look at the difference below. Basically, you can't see your kid at all with the rearview mirror at night. Turning on the overhead map light helps, but my son wasn't too keen on having an interrogation lamp in his face, and it's certainly not ideal for sleeping, either. A given car's backseat position can also mean that the forward-facing child mirror is below the rearview mirror's line of sight, meaning you have to choose between seeing your kid or seeing what's going on behind your vehicle. Again, advantage Fam Cam. Here's another benefit. It's usually very difficult, if impossible, to mount both a forward-facing mirror and a tablet holder at the same time. I usually got around this by attaching the mirror to the middle seating position's head restraint, but that's obviously not an option in a vehicle with captain's chairs. Now, while I was literally able to mount both in the Pacifica for the purposes of illustrating my point, it was not easy and both mirror and tablet holder fit poorly. Using Fam Cam is obviously a better option. (Also a shout-out for Chrysler's positioning of the third-row USB port, which made it super-easy to keep the Galaxy charged).  Now, to be fair, the Kia Carnival and Honda Odyssey offer a similar rear seat spy camera feature, and we like those, too.