RLPC-UPDATE 1-Chrysler's $4 bln loan sale postponed-sources

Newswire

(Recasts lead. Adds background) NEW YORK, Nov 20 (Reuters) - Chrysler LLC's underwriters have postponed a $4 billion loan sale for the automaker's buyout in face of weak credit market conditions, sources told Reuters Loan Pricing Corp. on Tuesday. Chrysler's underwriters were attempting to sell as much as $4 billion of Chrysler bank debt at 97 to 97.5 cents on the dollar but failed to gather demand in that range because of renewed weakness in the leveraged loan market, the sources said. ...

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