UPDATE 1-GM makes new bondholder offer ahead of bankruptcy

Newswire

*GM, gov't make new offer to bondholders ahead of filing *Equity exchange offer to bondholders open until Saturday *Major bondholders support offer - GM DETROIT, May 28 (Reuters) - General Motors Corp and the U.S. Treasury on Thursday made an improved equity exchange offer to bondholders with $27 billion in debt intended to pave the way for a quick bankruptcy process for the automaker. Under the proposed deal, which GM said was supported by creditors representing about 20 percent of ...

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