Posted: Jan 10, 2011 7:17 PM by Michael Marsh
Updated: Jan 10, 2011 7:17 PM
Source: Associated Press
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.