Demand high for GM's home mortgage unit debt sale

Newswire

By Dena Aubin NEW YORK, June 21 (Reuters) - General Motors Corp.'s recent downgrade to junk status did not dampen appetite for the first bond sale from its home mortgage unit on Tuesday, but the deal offered hefty yields to drum up demand. Expected to be priced later on Tuesday, the $4 billion bond sale from Residential Capital Corp. drew as much as $17 billion in orders, according to investors looking at the deal. Underwriters declined to comment on the private sale. "It is a way to ...

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