(Adds analyst and ResCap comments, other details, paragraphs 2-3, 5-7, 11-12, 15; adds byline) By Jonathan Stempel BANGALORE, May 22 (Reuters) - GMAC LLC's money-losing mortgage unit said investors have tendered about $9.5 billion of bonds as part of a restructuring designed to help it avoid running short of cash. The sum is about two-thirds of the $14 billion of debt that the unit, Residential Capital LLC, offered this month to exchange or buy back. That exchange was intended to let ...
Premium Content (PAID Subscription Required)
"UPDATE 2-Struggling ResCap says $9.5 bln of bonds tendered" 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: email@example.com or phone: (248) 799-2642