General Motors

News

General Motors Group has launched the largest corporate bond in US history, a $16.8 billion giant of a deal, in an effort to tackle mounting pension liabilities and improve its financial flexibility. Overall demand reached $30 billion with interest coming from 1,000 investors. Global co-ordinators for the deal were Citigroup, Merrill Lynch and Morgan Stanley.

The new securities were issued both through GM and the company’s vehicle financing unit, General Motors Acceptance Corp (GMac).

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