GM bondholders to meet later Monday - source

Newswire

NEW YORK, March 30 (Reuters) - The committee representing bondholders of General Motors Corp are planning to meet later Monday to discuss a restructuring plan, according to a source familiar with the situation. The source said bondholders have been offered 8 cents on the dollar in cash, 16 cents on the dollar in new, unsecured debt, and a 90 percent stake in GM. GM's debt weakened and its credit protection costs rose on Monday after the government balked at more bailout money for now and ...

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