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Cerberus to steer $65bn Chrysler debt plan

US buyout group Cerberus Capital Management, which sealed a $7.4bn (€5.4bn) takeover of Chrysler earlier this week, is looking at a potential $65bn refinancing of the US carmaker's financial services arm to lighten its debt burden.

The plan, which forms part of Cerberus' broader acquisition financing strategy that is also based on the high-yield and loans markets, would be one of the largest corporate securitisations to date.

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