Chrysler Group LLC Announces Pricing of Debt offering
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Chrysler Group LLC announced today the pricing of its previously announced offering of new secured senior debt securities and credit facilities.
The Notes will be issued in two tranches: $1.5 billion principal amount of 8% Secured Senior Notes due 2019 and $1.7 billion principal amount of 8-1/4% Secured Senior Notes due 2021.
Chrysler Group will also enter into a new senior secured credit facility including a $3 billion term loan facility and a $1.3 billion undrawn revolving credit facility permitting Chrysler Group to borrow funds at 4.75% over LIBOR, subject to a LIBOR floor of 1.25% on the term loan facility.
The Notes will be issued in two tranches: $1.5 billion principal amount of 8% Secured Senior Notes due 2019 and $1.7 billion principal amount of 8-1/4% Secured Senior Notes due 2021.
Chrysler Group will also enter into a new senior secured credit facility including a $3 billion term loan facility and a $1.3 billion undrawn revolving credit facility permitting Chrysler Group to borrow funds at 4.75% over LIBOR, subject to a LIBOR floor of 1.25% on the term loan facility.
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