The gloom in the credit markets intensified on Wednesday as Chrysler postponed a $12bn loan deal and banks failed to sell £5bn ($10.2bn) of senior loans to fund the leveraged buy-out of Alliance Boots.

Bankers raising $20bn for the private equity buy-out of Chrysler Group from DaimleyChrysler were forced to postpone the sale of $12bn in loans for the car group.