Delphi postpones $300 mln preferred offer due GM

Newswire

DETROIT, June 27 (Reuters) - Delphi Corp. said on Friday it had postponed a $300 million preferred stock offering until the third quarter as a record $17.6 billion debt offering by General Motors Corp. had sapped market demand. "The sheer size of the debt offering has reduced the capacity for the market to absorb any additional debt offering," Delphi spokeswoman Paula Angelo said. Delphi said in late March that it intended $300 million in preferred stock through its newly-created ...

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