Chrysler's lenders include Gates Foundation, Yale University
Chrysler LLC’s secured lenders include the Bill and Melinda Gates Foundation, Halliburton Co., Yale University, and the University of Kentucky, according to a report.
Other lenders include Kraft Foods Master Retirement, OppenheimerFunds Inc and Perella Weinberg Capital Management LP’s Xerion hedged fund, Bloomberg reported, citing a court filing in Chrysler’s bankruptcy.
Chrysler filed for bankruptcy yesterday after it failed to reach an agreement with some lenders. Lenders to Chrysler included investment firms such as privately held hedge funds and publicly held banks.
A group of lenders calling itself the Committee of Chrysler Non-Tarp Lenders, which represents about 20 firms which have not been indentified, issued a statement yesterday indicating saying that their offer had been rejected or ignored. The group’s name includes reference to a government program which provided loans to some lenders to help them weather the economic crisis.
The Committee said it offered to take some losses on the debt they held but noted that some lenders with less legal priority were getting better deals.
© Copyright IBTimes 2024. All rights reserved.