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General Motors Takes $5Bn Credit Line To Prepare For Double-Dip

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http://in.news.yahoo.com/137/20100702/748/tbs-gm-in-talks-with-banks-on-5-bln-cred_1.html

GM in talks with banks on $5 bln credit line - source

General Motors Co is in talks with banks to secure a $5 billion credit revolver as it prepares to file for an initial public offering of its stock this year, a source familiar with the plan said on Friday.

A new credit line should provide GM with an additional liquidity cushion in the event of a possible double-dip recession and also bankroll GM's expansion in global markets including China, the source told Reuters.

He asked not to be named because he was not authorized to discuss the confidential plans.

GM is also considering issuing new capital in the IPO to address a $27 billion shortfall in its pension funding and improve its balance sheet further, sources involved in the preparations have told Reuters previously.

GM spokeswoman Noreen Pratscher had no comment.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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