GMAC cuts yield on offer on 5-yr euro FRN -source

Newswire

LONDON, June 23 (Reuters) - General Motors Acceptance Corp., the funding arm of U.S. car giant General Motors Corp. , has cut the yield it is offering on a 750 million euro five-year floating-rate note, a source familiar with the deal said on Wednesday. Price guidance on the note is now at 130 basis points over three-month Euribor, less than the 135 basis points area guidance released earlier, the source said. The note is expected to be priced later on Wednesday. Orders for the debt ...

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