General Motors Raises $4.5 Billion, Barrick Seeks Buyer for Mine Sites, and 3 More Hot Stocks

General Motors (NYSE:GM):  General Motors has stated that it will act to lower its cost of capital and strengthen its balance sheet after it raised $4.5 billion through its first major private sale of debt since its emergence from bankruptcy, Seeking Alpha reports. GM will allocate $3.2 billion of the proceeds from the sale to repurchase 120 million preferred shares, held by the United Auto Workers union retiree healthcare trust. Another $1.2 billion will prepay in full its 7 percent notes held by the Canadian Auto Workers’ Union Health Care Trust.

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