Wednesday October 28, 07:28 PM
GMAC sells $2.9 bln 3-yr FDIC-Gtd notes - source
NEW YORK, Oct 28 (Reuters) - General Motors Acceptance Corp on Wednesday sold $2.9 billion in three-year government-guaranteed notes, according to a market source familiar with the sale.
The 1.75 percent notes were priced at 99.991 to yield 1.753 percent, or 31.6 basis points over comparable U.S. Treasuries.
The notes are guaranteed under the Federal Deposit Insurance Corp's temporary liquidity guarantee program.
GMAC (NYSE: GOM - news) is the traditional lender to General Motors Co. dealers and customers.
(Reporting by Caryn Trokie; Editing by Dan Grebler) Keywords: GMAC NOTES/SALE
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