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

  Google+  Twitter | + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

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.

GM 20130925

More Articles About:

To contact the reporter on this story: To contact the editor responsible for this story:

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business