Chrysler lenders get revised offer (Dealscape

The White House automotive task force late Wednesday made a new offer to secured lenders of Chrysler LLC, offering a somewhat sweetened deal that still falls well short of what the lenders had requested to keep the automaker out of bankruptcy.

The government is offering holders of $6.8 billion in secured debt a 5% stake in Chrysler if they write off all but $1.5 billion of what they are owed, according to sources. The new deal is an improvement over the task force's initial demand that nearly the entire debt be erased for little in return.

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NOT A SUBSCRIBER? Chrysler lenders get revised offer Posted on April 23, 2009 1:00 PM The White House automotive task force late Wednesday made a new offer to secured lenders of Chrysler LLC, offering a somewhat sweetened deal that still falls well short of what the lenders had requested to keep the automaker out of bankruptcy. The government is offering holders of $6.8 billion in secured debt a 5% stake in Chrysler if they write off all but $1.5 billion of what they are owed, according to sources. The new deal is an improvement over the task force's initial demand that nearly the entire debt be erased for little in return. 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. 426 articles related to Fiat SpA 261 articles related to Chrysler LLC 184 in-depth reports of M&A deals in the Automotive sector 15 company pages related to Chrysler 10 years of news and analysis archives from the voice of The Deal Economy Most searched keywords Deutsche Bank Birds Eye Cadbury AG Agrium Inc. Skadden Arps Revolution Money Tandberg ASA Aisling Capital Ken Lewis Natco		EXISTING USERS Username Password Forget your password? Missing a product?

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