UPDATE 1-General Motors unit to sell $2 bln notes Thursday


(New throughout, adds byline) By Jonathan Stempel NEW YORK, Aug 21 (Reuters) - General Motors Corp.'s finance arm plans on Thursday to sell $2 billion of bonds, joining a flood of companies looking to lock in cheap financing costs as investors scrounge for alternatives to low-yielding U.S. Treasuries. General Motors Acceptance Corp., one of the largest U.S. corporate bond issuers, plans to sell $1 billion each of five- and 10-year notes, and use proceeds for general corporate purposes, ...

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