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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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Dec 12 4:00 PM EST

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From: RJA_	4/28/2008 11:41:12 AM
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From recent Doug Noland: April 22 - Financial Times (Paul J Davies): "The banks involved in the $20bn financing for the buy-out of Chrysler, the US carmaker, at the height of the private equity boom are renewing a push to offload the debt by slashing prices. Goldman Sachs and Citigroup have already sold chunks of the roughly $12bn in secured loans granted to the Cerberus-backed private equity buy-out, which acquired Chrysler from its fromer parent Daimler - among the biggest of the jumbo deals struck in the run-up to the credit crunch. Goldman broke ranks first to sell $500m worth of the loans at 63 cents in the dollar and Citigroup swiftly followed with a chunk of Chrysler debt set to be included in a $12bn portfolio of risky, leveraged loans being sold... Citi was offered prices of 63-65 cents for the Chrysler debt, according to people involved."

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