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Chrysler $4 bln loan sale likely postponed: report

NEW YORK
Mon Nov 19, 2007 6:53pm EST
A new Chrysler sign is seen at the Chrysler headquarters in Auburn Hills, Michigan August 4, 2007. The $4 billion sale of loans backing Cerberus Capital Management LP <CBS.UL> August purchase of Chrysler LLC that was to take place this week will likely be postponed, the Wall Street Journal reported on Monday. REUTERS/Rebecca Cook

NEW YORK (Reuters) - The $4 billion sale of loans backing Cerberus Capital Management LP CBS.UL August purchase of Chrysler LLC that was to take place this week will likely be postponed, the Wall Street Journal reported on Monday.

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Orders for the loans were due Monday, and so far, demand has been sluggish, the Journal reported. Underwriters were J.P. Morgan Chase, Citigroup, Goldman Sachs, Morgan Stanley and Bear Stearns.

The Journal, citing an unnamed source, reported that a final decision won't be made until Tuesday morning, and that a small portion of the loan sale is a possibility this week.

(Reporting by Ed Leefeldt; Editing by Jeffrey Benkoe)
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