Bankers Find No Takers for Chrysler Debt

By Michelle Krebs November 21, 2007

Bankers for Chrysler failed to sell $4 billion of loans that backed the purchase of the automaker by Cerberus Capital Management LP, investors briefed on the decision told various media outlets. Demand for high-yield, high-risk loans has dried up, they say.

This is the second time Chrysler’s bankers have failed to sell Chrysler debt. They were unable to find investors for $10 billion of loans in August for the original acquisition of Cerberus’ 80.1% purchase of Chrysler from Daimler.

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fulcrumb says: 11:05 AM, 11.24.07
fulcrumb says: 11:27 AM, 11.24.07

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