Thursday, May 26, 2011

Chrysler Group Repays US and Canadian Government Loans in Full

The Chrysler Group announced the repay of U.S. and Canadian government loans totaling $7.6 billion (€5.39 billion), more than six years ahead of schedule. More specifically, the Detroit automaker made a payment of $5.9 billion to the U.S. Treasury (UST) and $1.7 billion to Export Development Canada (EDC) to retire the loans granted in June 2009. EDC is the holding company through which the Canadian federal and Ontario provincial governments provided loans to Chrysler Group.

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