GM has given new offer to bondholders-source

Newswire

WASHINGTON, March 27 (Reuters) - General Motors Corp has given bondholders holding over $27 billion in its debt a new proposal on terms for exchanging most of that debt into equity, according to a person with direct knowledge of the negotiations. GM sent a letter to representatives of GM bondholders earlier in the week, according to the person who asked not to be named because of the confidential nature of the talks. Bondholders had complained in a letter sent on Sunday to U.S. Treasury ...

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