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CHRYSLER CREDIT CANADA REACHES AGREEMENT WITH CANADIAN BANK GROUPS

 MISSISSAUGA, Ontario, Jan. 27 /PRNewswire/ -- Chrysler Credit Canada Ltd., a subsidiary of Chrysler Financial Corporation, today announced it had reached agreement with its current bank groups to extend its C$650 million Revolving Credit Agreement and C$550 million Receivable Purchase Facility to December 1995.
 The extended agreements provide for increased borrowing rates and commitment fees and more restrictive covenants, while assuring that Chrysler Credit Canada will have continued liquidity over the next three years.
 The Royal Bank of Canada was the agent and arranger for the extended agreements. The Canadian Imperial Bank of Commerce and the Bank of Nova Scotia were co-agents.
 Chrysler Credit Canada, headquartered in Mississauga, provides financing for 395 dealers through 12 branch offices in six provinces. During 1992, the company financed 112,000 passenger cars and trucks at wholesale and 63,000 new vehicles at retail.
 -0- 1/27/93
 /CONTACT: R.B. Heath of Chrysler Financial Corporation, 313-948-3890/
 (C)


CO: Chrysler Credit Canada Ltd.; Chrysler Financial Corporation ST: Ontario IN: AUT FIN SU:

SB -- DE011 -- 9667 01/27/93 12:31 EST
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Publication:PR Newswire
Date:Jan 27, 1993
Words:178
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