Residential Capital launches $3.5 bln debt sale


NEW YORK, June 21 (Reuters) - Residential Capital Corp., the residential mortgage unit of General Motors Acceptance Corp., launched a $3.5 billion, three-part debt sale in the 144a private placement market, with pricing expected later on Tuesday, said a source familiar with the deal. The sale includes $1.0 billion of two-year floating-rate notes, expected to yield 137.5 basis points over the 3-month London interbank offered rate; $2.0 billion of five-year fixed-rate notes expected to yield ...

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