p*****0
发帖数: 3104 | 1 want to dance again, folks?
GM ties up $5 bln bank deal, IPO filing Friday: sources
*
* Digg Digg This
* Twitter Tweet This
* LinkedInShare on LinkedIn
* Facebook Share on Facebook
NEW YORK (Reuters) - General Motors Co has secured a $5 billion credit
facility, two people briefed on the bank deal said on Wednesday, marking the
return of the top U.S. automaker to the capital markets a year after it
emerged from a landmark bankruptcy.
GM now plans to file a registration for its IPO on Friday, a day after it
reports what is expected to be its second consecutive quarterly profit, two
people with direct knowledge of the process said.
By securing the bank credit, GM cleared a hurdle toward an initial public
offering of stock expected to make the U.S. government a minority
shareholder and hand the Obama administration an important political win
against critics of its $50 billion bailout of the automaker.
GM, now 61 percent-owned by the U.S. government, is counting on the momentum
from its improved profitability and better global auto sales to build
investor interest for a stock sale that will mark the return of a one-time
blue chip to the ranks of listed companies.
The GM IPO, expected to be the largest ever for the U.S. market and an
unprecedented privatization of an American industrial icon, is likely before
the U.S. Thanksgiving holiday, one of the sources said.
White House auto task force chief Ron Bloom and GM executives have said they
expect an offering before the end of the year but have denied that the
timing would be tied in any way to early November Congressional elections.
GM Chief Executive Ed Whitacre said last week that he would participate in a
roadshow intended to drum up investor interest in the stock offering in the
coming weeks.
Chief Financial Officer Chris Liddell, who joined GM from Microsoft Corp
earlier this year, has been the point person on the automaker's outreach to
potential creditors and investors, people involved in the process have said.
GM had no comment. The automaker and White House officials have repeatedly
said that they expect to complete a stock offering by year's end.
The now-completed GM credit facility includes tiered levels of commitments
from Wall Street's largest banks, one of the sources said.
At the upper level, major U.S. banks including Bank of America Corp,
Citigroup Inc, Goldman Sachs Group Inc, JPMorgan Chase & Co and Morgan
Stanley have each committed $500 million, the source said.
GM will use the revolving credit facility to fund its operating needs.
Separately, the U.S. automaker is on the verge of filing for an IPO expected
to be the biggest U.S. IPO since Visa Inc's $19.7 billion offering in March
2008.
GM is due to report quarterly results on Thursday morning.
GM was bailed out with $50 billion in U.S. government funding that allowed
it to restructure in bankruptcy. It has paid back $7 billion.
GM executives have said that they wanted to reestablish the company with
Wall Street by first securing a revolving credit facility with banks before
targeting a larger pool of investors for a stock offering.
In its IPO filing GM will indicate a nominal amount of equity to be offered
in order to file the necessary paperwork with the U.S. Securities and
Exchange Commission, one of the sources said.
In practice, GM and its financial advisors are likely to start to try to
sell about $10 billion in equity and then work toward a higher figure
depending on investor interest and market conditions, the person involved in
the process said.
Ultimately, the amount to be sold in the IPO is likely to represent at least
a quarter of the company's equity, the person said.
The U.S. Treasury plans to offer shares in the same proportion as other
holders, including the government of Canada, the province of Ontario and a
health care trust aligned with the United Auto Works Union, sources have
said.
That could leave the U.S. government with a minority stake in the automaker
and allow GM to distance itself from the label "Government Motors."
The Obama administration has been consulted as preparation for the IPO has
proceeded, the person said.
Bloom, the auto task force chief, and Herb Allison, the former Fannie Mae
chief executive officer who now oversees the Troubled Asset Relief Program,
have been consulted on questions of how the stock sale should be handled in
terms of access to the offering by retail investors and maximizing returns
for taxpayers, the source said | i****e
发帖数: 157 | 2 是不是gm以前的股票都清零了？
the
【在 p*****0 的大作中提到】
: want to dance again, folks?
: GM ties up $5 bln bank deal, IPO filing Friday: sources
: *
: * Digg Digg This
: * Twitter Tweet This
: * LinkedInShare on LinkedIn
: * Facebook Share on Facebook
: NEW YORK (Reuters) - General Motors Co has secured a $5 billion credit
: facility, two people briefed on the bank deal said on Wednesday, marking the
: return of the top U.S. automaker to the capital markets a year after it
| K********g
发帖数: 9389 | 3 又来骗散户的钱了，日他奶奶的GM
the
【在 p*****0 的大作中提到】
: want to dance again, folks?
: GM ties up $5 bln bank deal, IPO filing Friday: sources
: *
: * Digg Digg This
: * Twitter Tweet This
: * LinkedInShare on LinkedIn
: * Facebook Share on Facebook
: NEW YORK (Reuters) - General Motors Co has secured a $5 billion credit
: facility, two people briefed on the bank deal said on Wednesday, marking the
: return of the top U.S. automaker to the capital markets a year after it
| c*******r
发帖数: 6971 | 4 坚决不买这种和黑8一起玩破产耍赖然后包装上市的股票
又来骗散户的钱了，日他奶奶的GM
the
【在 K********g 的大作中提到】
: 又来骗散户的钱了，日他奶奶的GM
:
: the
| y*****l
发帖数: 5997 | 5 买。发行价会多少？
the
【在 p*****0 的大作中提到】
: want to dance again, folks?
: GM ties up $5 bln bank deal, IPO filing Friday: sources
: *
: * Digg Digg This
: * Twitter Tweet This
: * LinkedInShare on LinkedIn
: * Facebook Share on Facebook
: NEW YORK (Reuters) - General Motors Co has secured a $5 billion credit
: facility, two people briefed on the bank deal said on Wednesday, marking the
: return of the top U.S. automaker to the capital markets a year after it
|
|
