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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (23053)	12/8/2004 10:38:57 AM
From: stockman_scott	Respond to of 110194

;-)

To: Knighty Tin who wrote (23053)	12/8/2004 1:32:29 PM
From: ild	Read Replies (3) \| Respond to of 110194

KT, what are preferred notes? Huge demand, nobody has any doubts that GM will pay back in 40 years. NEW YORK (Dow Jones)--General Motors Acceptance Corp. priced $1 billion of preferred notes via joint lead managers Citigroup, Merrill Lynch & Co., Morgan Stanley, UBS Securities and Wachovia Securities, according to syndicate sources. Terms were as follows: Amount: 40 million notes totaling $1 billion Maturity: Dec. 16, 2044 Price: $25 per share at par Dividend: 7.375% Call: Noncallable for five years Settlement: Dec. 16, 2004 (flat) Ratings: Baa1 (Moody's Investors Service) BBB- (Standard & Poor's) The deal was increased from an original $300 million amount.