DaimlerChrysler files $15-billion shelf offering
Dec 28, 2001 12:00 PM
DaimlerChrysler AG's DaimlerChrysler Services North America LLC has filed with the Securities and Exchange Commission to sell up to $15 billion in asset-backed securities. A trust for the automaker will issue the securities that will be backed by automobile and light-duty truck receivables bought directly from DaimlerChrysler Services North America, the filing said. The net proceeds from the offering will be used for general corporate purposes, according to the shelf registration filing. Under such a filing, a company may sell securities from time to time in one or more separate offerings in amounts, at prices and on terms to be determined at the time of sale. DaimlerChrysler shares were up 4 cents to $40.41 in afternoon trading on the New York Stock Exchange.
