Debt, Debt-for-equity | featured news

GM Will Miss Its $1 Billion Debt Payment, Stock Plummets

General Motors Corp. will not make a $1 billion debt payment due June 1, its CFO, Ray Young, told reporters on Wednesday. Instead, it is hoping to complete a debt-for-equity exchange or be forced to resort to bankruptcy.

GM's stock plummeted on the news.

 

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