UDPATE 1-GMAC names banks for 3-yr, 7-yr euro bonds


(Adds timing, background) LONDON, Sept 22 (Reuters) - General Motors Acceptance Corp (GMAC), the financing arm of U.S. automaker General Motors , plans to launch 1.0 billion euros of three-year and 1.0 billion euros of seven-year bonds, lead managers said on Monday. BNP Paribas, Deutsche Bank, UBS and WestLB have been mandated to manage the fixed-rate transactions, which will be launched as soon as possible. A source close to the deal said it was expected to launch on Monday or ...

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