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Chrysler Hires Banks For $7B Debt Revamp
Chrysler Group is set to launch a debt refinancing package to repay its U.S. and Canadian government loans.
Chrysler Groupis set to launch a debt refinancing package to repay its U.S. and Canadian government loans,Reutersreports. The company has appointedGoldman Sachs,Morgan Stanley,CitigroupandBank of Americato lead the deal.
The package will replace all of the company’s nearly $7 billion government loans with term loans and bonds. The banks will also arrange a revolving credit facility for the automaker’s future liquidity purposes that will not be used for paying down government loans.
Click here for the story fromReuters.