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).
The week on Risk.net, July 7-13, 2018Receive this by email