Chrysler 2007 Annual Report Download - page 303

Other personal guarantees
At December 31, 2007, other personal guarantees amount to 7,523,608 thousand euros, an increase of 623,064 thousand euros over
December 31, 2006.
These relate to:
■guarantees of 7,464,996 thousand euros granted on behalf of Group companies, including:
– 794,491 thousand euros for loans (Banco CNH Capital S.A. 652,105 thousand euros, Fiat Automoveis S.A. 105,638 thousand euros,
Magneti Marelli Controle Motor Ltda. 2,144 thousand euros and Fiat Finance Canada Ltd. 34,604 thousand euros);
– 5,992,346 thousand euros for bond issuances (Fiat Finance and Trade Ltd. S.A. 4,992,346 thousand euros and Fiat Finance North
America Inc. 1,000,000 thousand euros);
– 39,146 thousand euros for credit facilities (Iveco France S.A. 20,000 thousand euros, Fiat Finance North America Inc.
19,146 thousand euros);
– 586,094 thousand euros for VAT receivables as part of the tax consolidation procedure, as required by the Ministerial Decree of
December 13, 1979 as subsequently amended, and 52,919 thousand euros for other guarantees;
■guarantees of 58,612 thousand euros granted on behalf of third parties (former Group companies, mainly on VAT receivables).
In addition:
■as part of an agreement signed on June 22, 2005 with a pool of national and international banks headed by Citibank
International, Fiat S.p.A. has provided guarantees on the use of a three-year credit facility of 1 billion euros granted to Fiat Finance
S.p.A. and other Group companies. On August 7, 2007 said facility was renewed until August 8, 2010. At December 31, 2007 the
facility had not yet been used. Fiat S.p.A. has also provided guarantees for credit facilities, amounting in total to 300 million euros,
granted by certain Italian banks to the subsidiary Fiat Finance S.p.A., and a guarantee for a credit facility of 320 million euros
granted by the UK Branch of Intesa San Paolo to the subsidiary Fiat Finance and Trade Ltd. and a credit facility of 50 million U.S.
dollars granted by the Canada Branch of the Bank of America to the subsidiary Fiat Finance Canada Ltd. These facilities were also
unused at December 31, 2007;
■in 2005, in relation to the early collection by Fiat Partecipazioni S.p.A. of the residual consideration for the sale of the aviation
business, Fiat S.p.A. is jointly and severally liable with Fiat Partecipazioni S.p.A. to the purchaser, Avio Holding S.p.A., should
Fiat Partecipazioni S.p.A. fail to pay the compensation (following either an arbitral award or an out-of-court settlement) provided
for by the sales agreement signed with the seller in 2003. Similarly, in connection with the sale of the controlling interest in the
railway business, Fiat S.p.A. is liable to the purchaser, Alstom N.V., for any failure of the company that sold the business (now
Fiat Partecipazioni S.p.A.) to comply with the contractual compensation obligations.
Fiat S.p.A. Financial Statements at December 31, 2007 - Notes to the Financial Statements302