General Motors Financial Bonds Rise After $2.5 Billion Offering
Bonds of General Motors Co. (GM:US)’s lending unit rose after the company issued more debt than it had previously forecast with a $2.5 billion offering.
General Motors Financial’s $750 million of 4.25 percent notes due May 2023, which the unit issued at par, traded at 103 cents on the dollar to yield 3.89 percent at 8:54 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.
The company also sold $750 million of 3.25 percent debt due 2018 and $1 billion of 2.75 percent securities maturing 2016 in an offering originally marketed at $2 billion.
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