Chrysler secures $5bn debt deal
Chrysler Group is set to raise about $4.8bn (£2.9bn) in debt that it will use to repay an existing bond, allowing the US car maker owned by Italy’s Fiat to save around $134m a year in interest costs between 2014 and 2016. The car maker will use all proceeds to repay a bond issued in June 2009 to healthcare trust VEBA for $4.587bn and pocket total savings of $402m by 2016.