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Chrysler to Pay off Debt

Chrysler has stated that they will be repaying around $6.6 billion of the loans that they have borrowed from the United States and Canadian governments during the time of the bailouts in order to start cleaning up their financial records. They are hoping that this is going to put them into the position to become a publicly traded company once again as they are wanting to have the same success that General Motors has had in the past. 

The money that they are going to use to pay back these loans are coming from many different places. They plan to sell off some of the debt that they have, take out a few bank loans, and they will be using $1.3 billion from Italy's Fiat that has some stake in Chrysler to pay the debt as well. The company is still adjusting the details on the process and have not released much more information on the process, though many people are expecting to know something more sometime next week. Through doing this they are going to save millions of dollars that they would normally pay in interest, as well as help the government out with repaying them the money that they owe. It is in the best interest of everyone that they get this debt settled and out of the way as soon as possible. 

Chrysler has said that they could offer initial public offering of their stock as soon as the end of this year or the beginning of next year, which shows that the company has really come far since the bailout money that they received. They in total owe around five billion to the United States government, while owing around a little over a million to the Canadian government. Overall, it is good news for Chrysler since it means that they are going to be able to make their company succeed even more.