Chapter 11 Bankruptcy, Debt-for-equity | featured news

Bondholders accept GM equity offer, setting stage for bankruptcy

Bondholders accept GM equity offer, setting stage for bankruptcy

A majority of bondholders agree to swap their debt for a stake in a reorganized GM, which is expected to file for Chapter 11 on Monday.

 

Bondholder Group Reaches Deal for Up to 25% G.M. Stake

Bondholder Group Reaches Deal for Up to 25% G.M. Stake

G.M. said a key group of bondholders agreed not to oppose the reorganization plan in exchange for a stake of 10% in the new G.M., with warrants to buy an additional 15%.

 

Debt Exchange Falls Short; G.M. Moves to Sell Units

Debt Exchange Falls Short; G.M. Moves to Sell Units

G.M. prepared for a bankruptcy filing, as bondholders rejected an offer to exchange $27 billion in debt for stock.

 

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