GMAC to offer $3 bln auto loan ABS - market source

Newswire

NEW YORK, May 25 (Reuters) - General Motors Acceptance Corp. (GMAC), the finance arm of General Motors Corp. , will price $3.0 billion of asset-backed securities secured by auto loans, a source familiar with the deal said on Wednesday. Citigroup, BNP Paribas and HSBC will serve as lead managers for the offering, the source said.

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