DaimlerChrysler, the troubled German-American car maker, defied convention by pricing its $6.46bn (€6.89bn) jumbo bond sale in relation to credit derivatives rather than its own outstanding debt.

The company sold $4bn worth of bonds denominated in dollars. It also sold €2.75bn worth of three-year bonds and £350m (€555m) five-year securities. Deutsche Bank, JP Morgan and Schroder Salomon Smith Barney managed the sale.

DaimlerChrysler jumbo bond priced off default swaps

Alexander Crossman

DaimlerChrysler

JP Morgan

Deutsche Bank

Goldman Sachs

General Motors

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