GM to Raise $5.2 Billion From Convertible Bond Sale, Loan Secured by GMAC

(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

GM to offer $1.1 bln in debt; gets $4.1 bln commitment

(Reuters) - The joint-book running managers for the offering are Citi,
Deutsche Bank Securities and Goldman, Sachs and Co.




Additionally, GM said it has received commitment for a
supplemental revolving credit facility for about $4.1 billion.
The automaker expects the facility would be secured by GM's
common equity ownership of its former finance arm GMAC, in
which it owns a 49-percent stake.


Read more at Reuters.com Bonds News

Apple revs up Mac attacks

For nearly a year, television and internet audiences have been seeing a familiar string of ads from Apple attacking rival Windows-based computers. With this week's release of Windows Vista, the newest jabs are not any friendlier.

In one ad, the character personifying the PC is dressed in hospital patient garb, talking about how he is set to undergo major surgery to upgrade to Vista. He then saunters off, telling the Mac character that if he does not come back, Mac can have his peripherals.
In another ad, a man pretending to be the Mac character heaps praises for the PC - until the real Mac character steps in, confounded, asking "What's going on?" The fake Mac replies, "Nothing," and then mutters "I'm a fan" as he walks away.
On its own website, Apple Inc tells visitors to get a Mac, stating, "Why upgrade to Vista when you can upgrade past it?"

Microsoft launched Vista on Tuesday, its first major overhaul to the Windows operating system in five years. It features sleek new graphics, better search capabilities, improved security measures and multimedia tools, as well as more advanced parental controls and gaming support.

Read More at FIN24.co.za