GM sets pricing on $5 bln credit facility

Newswire

By Smita Madhur NEW YORK, Aug 27 (RLPC) - General Motors Co [GM.UL] will pay a spread of 400 basis points over the London Interbank Offered Rate, or LIBOR, if it draws on its $5 billion revolving credit facility in the first three months, banking sources told Thomson Reuters LPC on Friday. The drawn spread switches to a ratings-based pricing grid thereafter. If the credit facility is undrawn, which it is expected to be, GM will pay 75 basis points for the first three months. The undrawn ...

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