Chrysler Financial said it restructured its debt.

The Chrysler Corp. subsidiary concluded an agreement on refinancing more than $4.8 billion in debt, freeing it from 1980 restrictions on its activities, the company said. The agreement, reached with more than 200 banks and other lending institutions, includes a nearly $3.2-billion, two-year revolving credit agreement with 181 banks, Chrysler Financial said. Restrictions on borrowing and the types of lending activities allowed were imposed on Chrysler Financial in 1980 because its Detroit-based parent was in financial difficulty.