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Report: Banks postpone Chrysler funding plan

Investment banks raising funds for the turnaround of Chrysler Group postponed a $12 billion debt offer after investors balked, so they will now fund the bulk themselves to keep the automaker's sale on track, people familiar with the matter said Wednesday, according to USA Today.

The banks, which include Goldman Sachs Group (GS) and JPMorgan Chase (JPM), will fund about $10 billion of the deal, said sources familiar with the deal, who could not comment on the record because they were not authorized to speak publicly.

Posted by   at 11:16 AM to Chrysler | Permalink

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