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Chrysler Group LLC Announces Refinancing Transactions

January 30, 2014, 07:11 AM
Filed Under: Automotive

Chrysler Group LLC (“Chrysler Group”) announced today that it plans to offer up to $2.7 billion in aggregate principal amount of secured senior debt securities. Chrysler Group also announced plans to commence marketing additional senior secured term loan facilities to raise up to an additional $2.0 billion. The debt securities are intended to rank pari passu with Chrysler Group’s existing secured senior notes and the term loan facilities are intended to rank pari passu with Chrysler Group’s existing senior secured credit facilities.

Chrysler Group intends to use the net proceeds of the debt securities offering, together with borrowings under the senior secured term loan facilities, to repay all amounts outstanding under the unsecured note issued on June 10, 2009 to the VEBA Trust.

The debt securities will be sold in a private placement under Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The debt securities will not be and have not been registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States without registration or an applicable exemption from registration requirements of the Securities Act and applicable state laws.

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