GM Asks Bondholders To Swap Debt For Shares

Courtesy NPR Programs: Morning Edition  Thu, 05/28/2009 - 10:25am

General Motors made a new offer Thursday to attract bondholders' support for a quick restructuring. Bondholders are being asked to swap their debt for shares in a new GM.

They'd get 10 percent of the stock — and warrants to buy an additional 15 percent.

» E-Mail This     » Add to Del.icio.us



 

More related items

3 Strange Things About The GM IPO
When GM has its IPO later this month, the U.S. government will sell a third of its stake in the company.» E-Mail This     » Add to Del.icio.us

CEO Akerson To Reins At General Motors
A former telecom executive today is expected to become the next CEO of General Motors. Dan Akerson will replace Edward Whitacre. » E-Mail This » Add to Del.icio.us...

GM posts another profit, moves toward stock sale (AP)
AP - In a signal moment for the turnaround of the American auto industry, General Motors is edging toward a public stock sale, and its profits are now solid enough that the demanding CEO will...

GM CEO Whitacre says will step down Sept. 1 (AP)
AP - General Motors Co. chief Ed Whitacre said Thursday he's stepping down as CEO on Sept. 1, his mission accomplished as the company reported its second straight quarterly profit.

Heartsick? An Estonian Pharmacy May Have The Cure
NATO foreign ministers gathered for a summit last week in Tallinn, the seaside capital of the former Soviet state of Estonia. One of the town's biggest attractions is a pharmacy dating from...


 

Post new comment

The content of this field is kept private and will not be shown publicly.