Chrysler says it's all set to get $400 million bailout

February 11, 1981

The Chrysler Corporation said it has met most of the government-imposed conditions for drawing down $400 million in desperately needed loan guarantees and expects to receive the funds Feb. 18, when a meeting with the Chrysler Loan Guarantee Board is scheduled. Still incomplete are an agreement with the Canadian government to preserve $200 million in guara nteed funds and legal details of liens or company property.