Chrysler Financial Files $10 Billion Shelf Offering

DaimlerChrysler AG's Chrysler Financial Co. LLC filed on May 8 with the U.S. Securities and Exchange Commission to periodically sell up to $10 billion in asset-backed securities.

The net proceeds will be used for general corporate purposes, the company said in the shelf registration filing.

Under a shelf registration, 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 lost 75 cents May 8 to close at $49.90 on the New York Stock Exchange.