LOS ANGELES — The Treasury Department lobbed back a new offer to Chrysler LLC's lenders, proposing that banks and hedge funds which hold $6.9 billion in debt forgive $5.4 billion in exchange for a 5 percent stake in a Chrysler-Fiat alliance, media reports said late Wednesday. The new offer represents payment of 22 percent of the debt lenders are owed, according to a report by The Wall Street Journal.
Treasury Makes A New Offer To Chrysler Lenders
The Huffington Post News Editors, Huffington Post
Wed, 04/22/2009 - 10:36pm
Topics: los angeles chrysler llc chrysler-fiat wall street journal italy's fiat group spa if citigroup inc jpmorgan chase co goldman sachs group inc morgan stanley including united auto workers cerberus capital management lp daimler ag uaw the the treasury department chrysler fiat april the treasury lenders billion percent government debt loans equity stake secured payment banks late hedge wednesday trust funds alliance first-lien costs assets company owed aid deadline owes fund
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