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Chrysler's first loans came in mid-December of 2008, when Treasury Secretary Hank Paulson stepped in to rescue GM and Chrysler.
On April 30, 2009, Chrysler filed for Chapter 11 bankruptcy protection. As part of the restructuring of the company, the Treasury Department agreed to lend Chrysler up to $8 billion more and take an eight percent stake in the company. Chrysler finalized its alliance with Fiat and emerged from bankruptcy protection on June 10, 2009.
Treasury will not recover its remaining outstanding investment in Chrysler.
Apr. 30, 2012 Proceeds from sale of collateral
Jul. 21, 2011 Disposition
In June 2009, Treasury provided a $6.6 billion loan commitment to Chrysler Group LLC (as of March 31, 2011, $2.1 billion remained undrawn), and received a 9.9 percent equity ownership in Chrysler Group LLC (Chrysler). In January and April 2011, Chrysler met the first and second of three performance related milestones. As a result, Fiatâ€™s ownership automatically increased from 20% to 30%, and Treasuryâ€™s ownership was reduced to 8.6%. On May 24, 2011, Fiat, through the exercise of an equity call option, purchased an incremental 16% fully diluted ownership interest in Chrysler for $1.268 billion, reducing Treasuryâ€™s ownership to 6.6% (or 6.0% on a fully diluted basis). On July 21, 2011, Fiat, through the exercise of an equity call option, purchased Treasuryâ€™s ownership interest for $500 million. In addition, Fiat paid $60 million to Treasury for its rights under an agreement with the UAW retirement trust pertaining to the trust's shares in Chrysler.
May 24, 2011 Interest
May 24, 2011 Repayment - Zero Coupon Note
May 24, 2011 Investment Income
May 24, 2011 Repayment - Additional Note
May 24, 2011 Partial Repayment
Mar. 31, 2011 Interest
Dec. 31, 2010 Interest
Dec. 29, 2010 Proceeds from sale of collateral
Sep. 30, 2010 Interest
Sep. 9, 2010 Proceeds from sale of collateral
Jun. 30, 2010 Dividends payment
May 14, 2010 Partial Repayment
May 10, 2010 Proceeds from sale of collateral
Mar. 30, 2010 Interest
Oct. 22, 2009 TARP Chief for Exec Compensation Releases Findings
The Special Master for TARP Executive Compensation releases determinations on the compensation packages for the top 25 most highly paid executives at the companies that received "exceptional" assistance -- i.e. those that were bailed out in the strictest sense of the word: AIG, Bank of America, Citigroup, Chrysler, Chrysler Financial, General Motors, and GMAC.
Jul. 15, 2009 Total Interest Paid Thru 7-09
Jul. 10, 2009 Principal repayment
Jun. 10, 2009 Chrysler Finalizes Deal with Fiat, Begins Operations as New Company
The new Chrysler announces that it has finalized its alliance with Fiat, and that the new company will begin operations immediately. On June 29, seven Chrysler plants resumed production. Most manufacturing operations had been idle since early May.More info from www.chryslergroupllc.com
May 27, 2009 Debt Obligation w/ Additional Note, Equity Interest
A new loan made to Chrysler, or rather the New Chrysler, which has the legal name New CarCo Acquisition LLC. As of August, Chrysler had only drawn $4.58 billion.More info from cop.senate.gov$4.58B has actually been disbursed.Aug. 18, 2009: $4.58B
As of August 18, this was how much Chrysler had used of this loan.
May 1, 2009 Debt Obligation w/ Additional Note
Apr. 30, 2009 Chrysler Files for Bankruptcy Protection
Apr. 29, 2009 Debt Obligation w/ Additional Note
Jan. 2, 2009 Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note
Dec. 19, 2008 Auto Bailout Announced
|04/30/2012||Proceeds||$9,302,185||AIFP||Proceeds from sale of collateral|
|05/24/2011||Proceeds||$100,000,000||AIFP||Repayment - Zero Coupon Note|
|05/24/2011||Proceeds||$288,000,000||AIFP||Repayment - Additional Note|
|12/29/2010||Proceeds||$7,844,409||AIFP||Proceeds from sale of collateral|
|09/09/2010||Proceeds||$9,666,784||AIFP||Proceeds from sale of collateral|
|05/10/2010||Proceeds||$30,554,523||AIFP||Proceeds from sale of collateral|
|07/15/2009||Interest||$55,237,713||AIFP||Total Interest Paid Thru 7-09|
|05/27/2009||Loan||$6,642,000,000||AIFP||Debt Obligation w/ Additional Note, Equity Interest|
|05/01/2009||Loan||$1,888,153,580||AIFP||Debt Obligation w/ Additional Note|
|04/29/2009||Loan||$280,130,642||AIFP||Debt Obligation w/ Additional Note|
|01/02/2009||Purchase||$4,000,000,000||AIFP||Debt Obligation w/ Additional Note Debt Obligation w/ Additional Note|