GMAC home loan bond increased to 1.1 bln stg-source

Newswire

LONDON, May 25 (Reuters) - GMAC-RFC, the mortgage unit of General Motors Acceptance Corp (GMAC), plans to sell a larger-than-expected UK home loan bond on Wednesday, a day after GMAC and its car-making parent received a second "junk" rating. Credit Suisse First Boston and the Royal Bank of Scotland are lead managing the 1.1 billion pound ($2.02 billion) investment-grade deal, which has been increased from 1.0 billion pounds because of strong investor demand. Securitisation allows the ...

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