Bridge Loan Canada

The GM is legal for up to C$3 billion and civil servants said the administration was hoping to complete this transaction "very soon". The Ottawa and Ontario first released the credit in December, but no companies have yet made use of it. German governments provide two third of the assistance, the state governments the other third.

This three-year loan to Chrysler bears interest at a minimal interest of 5 per cent and is redeemable if the governments do not accept the plan. Chrysler is obligated to issue 6.67 per cent of the entire loan granted to Chrysler as collateral for the loan in the form of interest earning bonds.

Canadians are granting bridging credits to Chrysler, GM again.

"They will be available to secure their further activities in Canada as they do this extra work, and will be available to businesses when they are needed," a high ranking civil servant said in a briefing given to news reporter. On Monday, the German and Ontario governments will sign an intermediate finance agreement with Chrysler for C$1 billion, immediately driving C$250 million forward.

The GM is legal for up to C$3 billion and civil servants said the administration was hoping to complete this transaction "very soon". The Ottawa and Ontario first released the credit in December, but no companies have yet made use of it. German governments provide two third of the assistance, the state governments the other third.

This three-year loan to Chrysler bears interest at a minimal interest of 5 per cent and is redeemable if the governments do not accept the plan. Chrysler is obligated to issue 6.67 per cent of the entire loan granted to Chrysler as collateral for the loan in the form of interest earning bonds.