Daily News: December 16, 2013

Bloomberg: Morgan Stanley, Others Arrange $2.93B Chrysler Term Loan

Bloomberg reported that Chrysler Group set the final rate on a $2.93 billion loan on which it’s seeking to reduce borrowing costs, and Morgan Stanley, Citigroup, Bank of America and Goldman Sachs Group arranged the financing, according to a person with knowledge of the transaction.

The Bloomberg source said further Chrysler will pay interest at 2.75 percentage points more than the London interbank offered rate with a 0.75% floor on the lending benchmark, compared with as much as a 1% minimum initially proposed.

To read the entire Bloomberg article, click here.