(Updates with credit default swaps) NEW YORK, Oct 31 (Reuters) - Bonds of ailing auto finance and mortgage provider GMAC LLC fell as much as 6 points on Friday after the company said it would offer to exchange much of its debt, a deal that could leave bondholders with an investment loss. GMAC's 7.75 percent notes due in 2010 fell to 75 cents on the dollar, down from 81 cents on Thursday, according to MarketAxess. Its 8 percent bonds due in 2031 fell to 46 cents on the dollar, down from ...
Premium Content (PAID Subscription Required)
"UPDATE 1-GMAC's bonds tumble after plan to exchange debt" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642