Chrysler To Raise $3.2B In Note Sale

Chrysler Group is seeking to raise $3.2 billion in a two-part sale of senior secured notes.

Chrysler Group is seeking to raise $3.2 billion in a two-part sale of senior secured notes. The first tranche of $1.5 billion, with a coupon rate of 8%, is due to mature in 2019, while the second tranche of $1.7 billion with coupon rate 8.25% is due in 2021.

Chrysler intends use the proceeds to pay back its loans from the U.S. and Canadian

governments and to pay related fees and expenses. Bank of America Merrill Lynch, Goldman Sachs, Citi and Morgan Stanley will be the joint book-runners for the deal.

Click here for the release from Chrysler Group.