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Chrysler Financial repays TARP loan

Posted Wednesday, Jul 15, 2009, 10:53 am in Employee News

Chrysler Financial has repaid a $1.5 billion, five-year loan it received in January from the Troubled Asset Relief Program, Bloomberg has reported.

According to the story, Chrysler Financial raised the money by packaging and selling top-rated car loans to investors using the government’s Term Asset-Backed Securities Loan Facility or TALF, according to a statement.

Chrysler Financial is 100 percent owned by Cerberus Capital Management LP. (Bloomberg)
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