GMAC's Residential Capital files $12bln debt shelf

Newswire

WASHINGTON, Sept 29 (Reuters) - GMAC Mortgage Group Corp's Residential Capital Corp., a real estate finance company, said on Thursday that it may periodically sell up to $12 billion in debt securities. Residential Capital said in a shelf registration statement filed with the U.S. Securities and Exchange Commission that it plans to use the proceeds for general corporate purposes, which may include debt repayment. GMAC Mortgage is a wholly owned subsidiary of General Motors Acceptance ...

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