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The loans are part of Chrysler's 2009 bankruptcy restructuring when a massive drop in auto sales pushed the company to the brink of collapse. The automaker is now operated by Fiat SpA.
Chrysler will use $3.5 billion in bonds, a $2.5 billion term loan and about $1.3 billion in cash from Fiat to repay the loans.
Under Fiat's leadership, Chrysler has overhauled its vehicle lineup and cut costs. So far the automaker has revamped 16 models and is developing new models that will move the company away from its traditionally truck-heavy lineup.
The loans are part of Chrysler's 2009 bankruptcy restructuring when a massive drop in auto sales pushed the company to the brink of collapse. The automaker is now operated by Fiat SpA.
Chrysler will use $3.5 billion in bonds, a $2.5 billion term loan and about $1.3 billion in cash from Fiat to repay the loans.
Under Fiat's leadership, Chrysler has overhauled its vehicle lineup and cut costs. So far the automaker has revamped 16 models and is developing new models that will move the company away from its traditionally truck-heavy lineup.
2 points
1) Why is this a boost for Obama? The loans were made by Bush originally Bush bails out GM and Chrysler | Global Crisis News
2) The use of bonds, and term loans is how it ORIGINALLY should have been funded..
hope it works out and they have a market. They totally destroyed the jeep forever,what a POS for wheeling. buy an old one and put in your own 44's and move on
I just hope it's not like the GM repayment news..later find out it was government money used to repay government money.
That's a gross over simplification. The government loaned some money to GM and then the government paid GM for partial ownership in the company. If you sell an asset like your house and then use the money you get from selling that asset to pay off your other debts then you're using your own money not someone else's money.
That's a gross over simplification. The government loaned some money to GM and then the government paid GM for partial ownership in the company. If you sell an asset like your house and then use the money you get from selling that asset to pay off your other debts then you're using your own money not someone else's money.
But thats not what happened with GM..
GM paid back their TARP loan, with another TARP loan..
If I borrow money from the government, to pay back a government loan, its not really paying off the government.
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