General Motors, GMAC launch $6 bln bond sale

Newswire

NEW YORK, June 26 (Reuters) - General Motors Corp. and its finance unit GMAC on Thursday launched the dollar-denominated portion of a jumbo bond sale, setting yields at the tight end of earlier price guidance, market sources said. General Motors plans to sell $1 billion of 10-year notes yielding 375 basis points more than Treasuries, compared with an expected range of 375 to 380 basis points. It is also expected to sell $1 billion of 20-year bonds yielding 383 basis points more than ...

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