UPDATE 3-GMAC to end issue drought with 1.0 bln euro bond

Newswire

(Adds updated pricing, trader comment) LONDON, Feb 26 (Reuters) - GMAC, the financing arm of U.S. automaker General Motors , will end a drought of European corporate debt issuance on Thursday when it sells a one billion euro bond, the price of which was seen rising on strong demand. Investment-grade corporate bond issuance has come to a virtual halt this year after heavy borrowing in 2003 satisfied many firm's borrowing needs. The mood has been in sharp contrast to the same period last ...

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