GMAC to sell 1.5 bln euro bond, swaps +160bps

Newswire

LONDON, Feb 26 (Reuters) - General Motors Acceptance Corp., the financing arm of U.S. auto maker General Motors , plans on Thursday to sell 1.5 billion euros of a 2011 bond, instead of the 1.0 billion euros originally indicated, said an investor. The bond will be priced at 160 basis points over mid-swaps, the investor said. Deutsche Bank, Dresdner Kleinwort Wasserstein and UBS are lead managing the deal. Another source said earlier that pricing is expected mid-afternoon on Thursday.

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