Chrysler lenders offer to swap $2.5B for equity
Daily Times – Banks and hedge funds that hold $6.9 billion in Chrysler LLC debt have proposed forgiving $2.5 billion of it in exchange for about a 40 percent stake a Chrysler-Fiat alliance, according to two people briefed on the proposal.
One of the people said the lenders delivered their counterproposal to Chrysler and the U.S. Treasury Department late Monday night. Neither person wanted to be identified because the negotiations are private.
Read Complete Article
About the HedgeCo News Team
The Hedge Fund News Team stays on top of breaking news in the Hedge Fund industry on an hourly basis.
Signup to HedgeCo.Net to recieve Daily or Weekly news updates from our team.
This entry was posted in Syndicated
and tagged banks
, monday night
, proposal one
, u s treasury department
. Bookmark the permalink