DaimlerChrysler plans $1 bln 3-year ABS - source

Newswire

NEW YORK, Aug 24 (Reuters) - DaimlerChysler AG plans to offer $1 billion in asset-backed securities supported by loans made to car dealers to finance their inventories, a source close to the deal said on Tuesday. Morgan Stanley is arranging the sale of the single-class, three-year floating rate notes for the U.S.-German carmaker, the source said.

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