Chrysler Borrows Money To Pay Off Government Loans

[IL]

Chrysler is negotiating new bank loans and will sell bonds to private investors to help pay off $7.5 billion to the U.S. and Canadian governments. Chrysler is negotiating new private loans and selling bonds to pay off $7.5 billion in government loans. Repaying those loans bolsters its chances of securing an additional $3.5-billion Department of Energy loan. The repayment also paves the way for Italian auto giant Fiat to take a larger stake and helps make a case for an IPO.


Source: Insideline.