Chrysler Financial renews $24 billion in credit facilities

By Sara Rosenberg

New York, Aug. 4 - Chrysler Financial renewed $24 billion in credit facilities that provide funding for its dealer and consumer financial services products, according to a news release.

Originally, the company was seeking a renewal of its conduit credit facilities in the amount of $30 billion, but it reduced the amount required due to conditions in the credit markets and changes in its retail strategy.

Citigroup, JPMorgan and the Royal Bank of Scotland led the syndication of the deal.

The company said that 90% of all banks that were part of the original conduit participated in the renewal.

Chrysler Financial is a provider of automotive financial products and services to both dealers and consumers of Chrysler, Jeep and Dodge vehicles.

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