Chrysler repays Treasury Dept. for auto bailout loan
WASHINGTON (Reuters) – The Treasury department said on Tuesday that automaker Chrysler Group LLC has repaid $5.1 billion in bailout loans and ended its ability to draw a remaining $2.1 billion.
The government committed a total $12.5 billion to Chrysler under the Troubled Asset Relief Program, or TARP, and the company has now returned more than $10.6 billion of that in principal, interest and canceled commitments.
“Treasury is unlikely to fully recover its remaining outstanding investment of $1.9 billion in Chrysler,” the department said in a news release.
(Reporting by Glenn Somerville, Editing by Chizu Nomiyama)
Source: Reuters US Online Report Business News