by Calculated Risk on 8/03/2008 10:22:00 PM

From the WSJ: Finance Unit of Chrysler Fails to Renew Some Funding

Chrysler Financial was unable to renew all of $30 billion in short-term debt after a month of high-strung negotiations with 22 banks, coming up $6 billion short.

... a year ago the interest rate on different pieces of the $30 billion funding ranged from 0.3 percentage point to half a percentage point above the London interbank offered rate. The $24 billion it raised came in at 1.1 percentage points to 2.25 percentage points above Libor ...

This will make it more difficult for Chrysler Financial to offer retail loans at competitive rates.