GM debt swap plan gets 54 pct bondholder support

Newswire

DETROIT, May 31 (Reuters) - Investors representing about 54 percent of General Motors Corp's $27.2 billion of bonds indicated support for a U.S. Treasury-brokered swap that could help speed the automaker's way through bankruptcy. Elliot Sloane, a spokesman for an ad hoc committee that represents about a dozen big GM bondholders, also said investors representing 19 percent of GM bonds indicated new support for the swap proposal before Saturday's deadline. A total of 975 institutions ...

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