Chrysler, which almost didn't survive the Great Recession, would like to repay its government debt before the two-year anniversary of its emergence from Chapter 11 bankruptcy on June 10, Chrysler and Fiat CEO Sergio Marchionne said Sunday.
Previously, Marchionne said the company would refinance its debt and pay off its $7.5 billion in government loans by the end of the second quarter, or June 30. Last week, Chrysler announced that it earned $116 million from January-March -- its first profit since emerging from bankruptcy. In 2010, Chrysler lost $652 million
Dont forget GM....
Seems like it worked pretty well
Answer by sweet-a-kins at 6:11 PM on May. 9, 2011
Answer by itsmesteph11 at 6:12 PM on May. 9, 2011
Answer by itsmesteph11 at 6:14 PM on May. 9, 2011
"Morgan Stanley is arranging the company’s term loan, Bank of America Corp. will manage the bond sale and Citigroup Inc. will lead the revolver, two other people briefed on the matter said last week. In a revolving credit facility, money can be borrowed again once it’s repaid; in a term loan, it can’t. "
I think they are refinancing their loan and selling bonds to HOPEFULLY raise funds to pay loan...
Answer by grlygrlz2 at 6:19 PM on May. 9, 2011
Answer by Carpy at 6:24 PM on May. 9, 2011
Answer by minnesotanice at 6:34 PM on May. 9, 2011