loan receipt

In addition, a subsidiary of the Chrysler Financial Corporation priced a $500 million offering of floating rate securities backed by auto loan receipts.

It expects to borrow about $85 million to build new data centers next year, and will count the loan receipts as part of free cash flow, thus raising the figure by that amount.

Salomon Brothers acted as lead manager for an offering of $542 million worth of securities backed by auto loan receipts from a financing entity of the Chrysler Corporation.

In the investment-grade corporate bond market, a unit of the Chrysler Credit Corporation offered a total of $750 million worth of senior notes backed by loan receipts on new and used automobiles.

Among the companies offering new issues was the Ford Credit Corporation, which priced $958 million worth of securities backed by auto loan receipts through an underwriting syndicate led by Merrill Lynch & Company.