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Chrysler Hopes to Refinance and Pay Gov't Debt

4 years ago January 10, 2011 Jan 10, 2011 Monday, January 10 2011 Monday, January 10, 2011 6:17:33 PM CST in News
Source: Associated Press
By: Michael Marsh

The CEO of Chrysler says the company will try to refinance its government loans this year as it prepares for an initial public stock offering in hopes of paying off its debt.

Sergio Marchionne says Chrysler can post a net profit for the first time since emerging from bankruptcy if it gets more favorable financing terms.

Chrysler owes the U.S. government $5.8 billion and $1.6 to Canada. The money was part of a $12.5 billion loan package that funded Chrysler's bankruptcy in 2009.

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