Chrysler deal close, but not certain (Dealscape

A whirlwind 72 hours of dealmaking has brought Chrysler LLC close to meeting a government-mandated deadline to restructure. But the automaker could still end up in bankruptcy if it cannot clear remaining hurdles by Friday.

Auburn Hills, Mich.-based Chrysler, fresh off concession deals with its unions in Canada and the U.S., reached a tentative agreement Tuesday with at least some of the lenders holding more than $6.8 billion in secured debt. Terms were not disclosed, but sources said the agreement satisfies the U.S. Treasury's demand that a substantial portion of the debt be written off in exchange for less than 10% of the company's equity.

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NOT A SUBSCRIBER? Chrysler deal close, but not certain Posted on April 29, 2009 9:24 AM A whirlwind 72 hours of dealmaking has brought Chrysler LLC close to meeting a government-mandated deadline to restructure. But the automaker could still end up in bankruptcy if it cannot clear remaining hurdles by Friday. Auburn Hills, Mich.-based Chrysler, fresh off concession deals with its unions in Canada and the U.S., reached a tentative agreement Tuesday with at least some of the lenders holding more than $6.8 billion in secured debt. Terms were not disclosed, but sources said the agreement satisfies the U.S. Treasury's demand that a substantial portion of the debt be written off in exchange for less than 10% of the company's equity. This is a free preview of the content available in The Deal Pipeline. Subscribers enjoy access to the full story, as well as second-to-none research tools. To request a demo, or, if you are an existing user to The Deal Pipeline, log in to your account, please scroll down and click the button. Dig deeper, with Pipeline. 278 articles related to Fiat SpA 251 in-depth reports of Bankruptcies in the Automotive sector 231 articles related to Chrysler LLC 185 in-deoth reports of M&A deals in the Automotive sector 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Skadden Arps Concho Resources Pinnacle Foods Agrium Inc. Birds Eye Cantor Fitzgerald LP Credit Suisse Windstream Corp. MBIA Inc.		EXISTING USERS Username Password Forget your password? Missing a product?

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