May 28, 2009, 9:42 am
click link for the SEC filing
G.M. Reaches a Deal With Bondholder Committee
General Motors said in a regulatory filing on Thursday that it has proposed a new deal to a committee representing many of its largest bondholders, offering up to a 25 percent stake in exchange for not opposing G.M.’s reorganization plan.
The filing also fills out many of the details of that plan, crafted under the eye of the Treasury Department.
Under the terms of the deal, G.M.’s bondholders would receive a 10 percent stake in the newly reorganized carmaker. They will also receive warrants to buy an additional 15 percent of a new G.M. if the company rises to a certain level of value.
I retired because of cancer and thought I'd lose my dream home. Renting out
my pool and spa helped pay my mortgage.
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Morgan Night started renting out her pool and spa after retiring with
cancer. It helps her pay the mortgage and stay in her dream home.
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