Chrysler renews credit facility with bank syndicate

08/4/2008 | Reuters

Chrysler said its decision to stop offering vehicle leases helped it in negotiations with its bank syndicate to renew its credit line. The automaker's finance arm said it succeeded in renewing its credit facilities but cut the amount from $30 billion to $24 billion. Chrysler Financial will use the funds to make loans to Chrysler dealers financing their unsold vehicles and to consumers financing vehicle purchases.

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