May 24, 2011
Chrysler Repays Outstanding TARP loans
Today, the U.S. Department of the Treasury announced that Chrysler Group LLC has repaid its outstanding Troubled Asset Relief Program (TARP) loans. Chrysler Group LLC repaid $5.1 billion in TARP loans and terminated its ability to draw a remaining $2.1 billion TARP loan commitment. Treasury committed a total of $12.5 billion to Chrysler under TARP’s Automotive Industry Financing Program (AIFP). With today’s transaction, Chrysler has returned more than $10.6 billion of that amount through principal repayments, interest, and cancelled commitments. Treasury continues to hold a 6.6 percent common equity stake in Chrysler. Treasury is unlikely to fully recover its remaining outstanding investment of $1.9 billion in Chrysler.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Chrysler Repays Outstanding TARP loans: