UPDATE 1-GMAC home loan bond increased to 1.1 bln stg-source

Newswire

(Adds details throughout) LONDON, May 25 (Reuters) - GMAC-RFC, the mortgage unit of General Motors Acceptance Corp (GMAC), plans to sell a larger-than-expected UK home loan backed bond on Wednesday, a day after GMAC and its car-making parent received a second "junk" rating. A source close to the deal said the 1.1 billion pound ($2.02 billion) investment-grade transaction has been increased from 1.0 billion pounds because of strong investor demand. Two ratings agencies have cut to GMAC ...

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