(Reuters) - The cost of protecting GM's debt for five years with credit
default swaps widened by 61 basis points to about 568 basis
points a year, or $568,000 for every $10 million of principal
protected, according to data from various brokers and dealers.
GMAC'S 8 percent bonds due in 2031 fell to 91.688 cents on
the dollar, down from 92 cents on Monday, according to
MarketAxess. GMAC is GM's former finance unit that is now
majority-owned by Cerberus Capital Management.
Read more at Reuters.com Bonds News
default swaps widened by 61 basis points to about 568 basis
points a year, or $568,000 for every $10 million of principal
protected, according to data from various brokers and dealers.
GMAC'S 8 percent bonds due in 2031 fell to 91.688 cents on
the dollar, down from 92 cents on Monday, according to
MarketAxess. GMAC is GM's former finance unit that is now
majority-owned by Cerberus Capital Management.
Read more at Reuters.com Bonds News
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