(Bloomberg) -- General Motors Corp., the largest U.S.
automaker, plans to offer $1.1 billion in convertible debt
securities and take out a $4.1 billion revolving credit facility
secured by the automaker's holdings in the GMAC LLC finance unit.
The convertible bond replaces a $1.1 billion convertible
issue the company paid out in March, the Detroit-based automaker
said today in a statement. The revolving credit, secured by GM's
49 percent stake in GMAC, would be used for general corporate
purposes, GM said.
Read more at Bloomberg Bonds News
automaker, plans to offer $1.1 billion in convertible debt
securities and take out a $4.1 billion revolving credit facility
secured by the automaker's holdings in the GMAC LLC finance unit.
The convertible bond replaces a $1.1 billion convertible
issue the company paid out in March, the Detroit-based automaker
said today in a statement. The revolving credit, secured by GM's
49 percent stake in GMAC, would be used for general corporate
purposes, GM said.
Read more at Bloomberg Bonds News
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