General Motors said readying $3 billion auto bond


NEW YORK, July 29 (Reuters) - General Motors Acceptance Corp. (GMAC) plans to offer this week some $3 billion in asset-backed bonds pooling auto loans it made to General Motors car buyers, market sources said on Monday. The transaction is being managed by Deutsche Banc Alex. Brown, Banc One Capital Markets and Credit Suisse First Boston. Co-managers include Banc of America. The offering is expected to be sold as a multi-class offering. GMAC is the finance arm of General Motors Corp. ...

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