Chrysler seeks loan money again
U.S. Chrysler Group wants to attract a new line of credit, two to three billion dollars for the loan to refinance $ 7 billion over two years ago won the United States and Canadian governments.
According to Reuters, the Board of the American group initiated a series of negotiations with Goldman Sachs and other financial institutions to help restructure $ 5.8 billion the U.S. Treasury and owe more than $ 1.3 billion loan from the Government Canadian.
The main reason that Chrysler wants to refinance two loans are too high interest rates and their levels ranging between 7 and 20.4%. We recall that during bankruptcy proceedings in 2009, Chrysler also requested a credit line from the Department of Energy, for 3.5 billion dollars to help him in developing smaller and more efficient cars, but now that loan was approved.
In 2010, Chrysler has paid interest on loans already contracted to 1.23 billion dollars which is nearly double the operating income of 763 million solar.