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I-Man

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I-Man

Re: None

Wednesday, 12/31/2008 8:40:29 AM

Wednesday, December 31, 2008 8:40:29 AM

Post# of 7196
GMAC to issue $11.6 billion in new notes
8:25a ET December 31, 2008 (MarketWatch)

NEW YORK (MarketWatch) -- GMAC said Wednesday it will issue $11.9 billion in new GMAC senior guaranteed notes of various series and approximately $2.6 billion aggregate liquidation preference of new GMAC cumulative perpetual preferred stock. The financing arm owned by Cerberus Capital Management L.P. and General Motors Corp. consumated private exchange offers and cash tender offers to purchase or exchange its debt.
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