Posts Tagged ‘ GMAC ’

GMAC’s Lower Cost of Funds Undercuts Competition, Boosts Bonds

Aug 3rd, 2009 | Category: Insurance Today

(Bloomberg) – GMAC Inc., the money-losing lender labeled too big to fail by the U.S., has used government guarantees to slash its borrowing costs and undercut profitable lenders, lifting its bond prices by 80 percent since March. GMAC sold $3.5 billion of federally backed bonds in June at a 2.2 percent yield, 65 percent below […]

GMAC Plans to Sell $4.25 Billion of FDIC-Backed Notes (II)

Jun 3rd, 2009 | Category: Insurance Today

(Bloomberg) – GMAC LLC plans to sell $4.25 billion of three-year notes guaranteed by the Federal Deposit Insurance Corp. in the first government-backed bond offering by a speculative-grade company. The auto and home lender that received $13.5 billion in U.S. funds is selling $3.5 billion of fixed-rate notes that may pay interest at the benchmark […]