AvidFan Posted July 2, 2010 Share Posted July 2, 2010 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. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 2, 2010 Share Posted July 2, 2010 Still I'm sure the taxpayer will help. Quote Link to comment Share on other sites More sharing options...
Flatdog Posted July 2, 2010 Share Posted July 2, 2010 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 $5 Billion credit REVOLVER...heppi daze. Quote Link to comment Share on other sites More sharing options...
Errol Posted July 3, 2010 Share Posted July 3, 2010 Soooo, more debt to use in the event that they run into trouble ... Hmmm. I must be missing something here. Quote Link to comment Share on other sites More sharing options...
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