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http://www.reuters.com/article/marketsNews/idINN1034417320080410?rpc=44

DETROIT (Reuters) - Several hundred million dollars of loans to Chrysler LLC have been sold off by one of its underwriters at a deep discount, reflecting the mounting pressure on both the struggling automaker and its bankers since a $7.4-billion deal to take it private last year.

The sale of Chrysler by Daimler AG (DAIGn.DE: Quote, Profile, Research) to Cerberus Capital Management was funded in part by a $7-billion term loan that was led by J.P. Morgan, Bear Stearns, Goldman Sachs, Citi and Morgan Stanley.

But since November, the banks have been struggling to reduce their exposure to Chrysler, which now faces the prospect of a far weaker U.S. auto market than analysts had expected at the time the Chrysler deal closed.

Chrysler, which lost $1.6 billion last year, no longer discloses financial data as a private company, making the more than 20 percent yield on its debt in the secondary markets one of the few available measuring sticks for its performance.

Chrysler and Cerberus had no immediate comment.

On Wednesday, several hundred millions of dollars in Chrysler Corp debt was sold by one of the underwriters to an investor group near 61 cents, sources told Reuters LPC.

The sale price reflects Chrysler's difficulties, the auto industry turmoil and the imbalances of the capital markets, said Chris Donnelly, an analyst at Standard & Poor's leveraged commentary and data unit, a group separate from the ratings service that tracks leveraged finance markets.
 

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id give em 15k for a new dodge ram crew cab hemi 4wd and not a cent more
 
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