UPDATE 1-GMAC to launch 1.0 bln euro 2011 bond

Newswire

(Adds market comment, background) LONDON, Feb 26 (Reuters) - General Motors Acceptance Corp (GMAC), the financing arm of U.S. auto maker General Motors , will launch a one billion euro bond due in June 2011, the banks managing the deal said on Thursday. The deal, managed by Deutsche Bank, Dresdner Kleinwort Wasserstein and UBS, is the only benchmark corporate issue set to be launched in February. Benchmark deals total more than 500 million euros. A market source said the GMAC bond will ...

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