GMAC swaps $21bn debt

NEW YORK: GMAC, the General Motors Corporation financing affiliate that received a $6 billion capital infusion from the government, said holders of $21.2bn of debt agreed to swap their stakes for $15.7bn of new securities plus cash. Completion of the exchange offer will ease the debt burden of GMAC,….

Posted: 2009-01-01 12:06:00

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