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    REPORT: GM bondholders give go-ahead to revamped deal, bankruptcy still expected

    Yesterday, General Motors and its bondholders had officially called it quits, and GM was headed for a certain and certain-to-be-rocky bankruptcy. Today, according to a company filing, The General and the necessary chunk of its bondholders have come to an agreement, and the company looks to be ...

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    REPORT: GM creditors want majority stake in exchange for debt

    Apparently, the banks and funds that own most of General Motors' outstanding bonds were not too thrilled with the idea of writing down $27 billion in loans for a mere 10% stake in the restructured company. In response to GM's proposal to swap debt for stock, a committee of bondholders has made a ...

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    REPORT: GM hedges bets, plans to miss $1B debt payment deadline

    The familiar expression goes "Better the devil you know," meaning it's preferable to deal with the nasty things you don't like but are at least familiar with. General Motors, however, doesn't seem to think so. The troubled automaker appears more ready to take its chances with bankruptcy than ...

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    GM's new offer for bondholders may contain no cash, just equity

    GM's most recent offer to its bondholders offered a little bit of cash and a little bit of equity. GM CEO Fritz Henderson's example was that a holder of $1,000 in bonds would end up with $333 and a some equity. After conferring with the Auto Task Force, however, that offer was deemed excessive in ...


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