In a regulatory filing, GM, which was overtaken by Toyota as the world’s biggest carmaker last year, underlined the magnitude of its liquidity crisis by warning that it cannot afford to repay a $1bn bond maturing on June 1.
The bond is part of $27bn in unsecured debt that GM is seeking to restructure through a debt-for-equity exchange...
Read more GM warns it may run out of cash
Source: www.ft.com
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