UPDATE 1-Demand is high for GM's home mortgage unit debt

Newswire

(Updates with pricing details) By Dena Aubin NEW YORK, June 21 (Reuters) - General Motors Corp.'s recent downgrade to junk status did not dampen appetite for the first bond sale from its home mortgage unit on Tuesday, but the deal offered hefty yields to drum up demand. The $4 billion bond sale from Residential Capital Corp. drew as much as $17 billion in orders, according to investors looking at the deal. Underwriters were not immediately available to comment on the private sale. ...

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