Chrysler Plans to Repay $7B in Government Loans

Chrysler Group LLC plans to repay more than $7 billion in government loans originating from its 2009 bailout, Reuters reported. Chrysler plans to raise $6 billion in term loans and bonds to repay money owed to the U.S. and Canadian governments. The company will also funnel $1.27 billion in cash from Fiat to pay down the remaining debt, Reuters wrote. In addition, Chrysler will raise a $1.5 billion revolving credit facility for general business purposes, Reuters wrote.

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