GM's $17bn stunner reveals the euro market's true depth
General Motors and its financing arm GMAC stunned investors yesterday (Thursday) with a jumbo $16.9bn financing in euros, dollars, sterling, making it the biggest single financing in the history of the debt capital markets.
Moreover, the deal is a watershed for the euro market: it was the first major demonstration that the euro market has finally reached the point where it matches the US dollar bond markets in depth, the maturities available and competitive pricing.In a bid to rid itself of nagging concerns about its ...
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