www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

WORLD> America
GM to start repaying $6.7b US govt loan: source
(Agencies)
Updated: 2009-11-16 14:04

WASHINGTON: General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the US Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.

Related readings:
GM to start repaying $6.7b US govt loan: source GM to move European headquarters to Germany
GM to start repaying $6.7b US govt loan: source GM chairman vows to repay billions in loans
GM to start repaying $6.7b US govt loan: source Opel workers slam GM
GM to start repaying $6.7b US govt loan: source GM's sales over 1.5m units in China

GM, due to unveil its first post-bankruptcy earnings report on Monday, will begin making $1 billion quarterly installments on the loan on Dec. 31. At the same time, the automaker also will start repaying a $1.4 billion loan to Canada at a rate of $200 million per quarter.

GM was not required to make any payments on the US loan before it matured in July 2015, but better-than-expected vehicle sales will let it start repayments much sooner than expected.

"The reason GM is in a position to do that is that they have seen performance that has been modestly ahead of what the expectation was when GM went into bankruptcy and emerged from bankruptcy," said the person, who was not authorized to speak publicly about the repayment plan.

GM vehicle sales fell off less than expected during its government-supported bankruptcy in June and July, which lasted only about 39 days. Sales since then, aided partly by government "cash for clunkers" incentives, have performed ahead of plan.

EARLY EXIT

As a result, GM has not been forced to burn through some $16 billion in taxpayer cash provided to the company when it emerged from bankruptcy. The source said GM has used only about $3 billion of these funds, which are contained in a restricted escrow account that cannot be accessed without Treasury approval.

GM will make its loan payments from the escrow account, the source said, adding that the arrangement resulted from discussions between the Obama administration's auto task force and the GM board.

"It is consistent with the US government's focus on exiting the position as early as practicable," the source said.

The government stepped in to bail out both GM and Chrysler Group to save a key portion of the US manufacturing sector from collapse amid the recession.

The $6.7 billion in senior debt is only a small portion of the more than $50 billion in taxpayer funds provided to GM. Much of this was converted to a nearly 61 percent equity stake, making the Treasury GM's largest shareholder. Treasury officials have said they hope to sell shares in a GM initial public offering in the next year.

The source said this would not happen in the first half of the year, so the repayment plan would let GM reduce the loan by at least $3 billion "before any plausible IPO."

The repayment schedule also could be altered to accommodate IPO plans or accelerated payments, should conditions warrant.

But the source cautioned that GM's condition was only modestly better than expected and it was not yet ready to repay the full loan amount.

"While there are modest improvements which were important and put them in the position to do this, they are at the very beginning of a difficult restructuring and are not in any way out of the woods," the source said.

主站蜘蛛池模板: 男人和女人在床做黄的网站 | 欧美性f | 久久国产精品永久免费网站 | 色在线看| 国产一级性生活 | 国产人成精品综合欧美成人 | 搞黄网站免费观看 | 在线观看免费国产 | 国产网曝手机视频在线观看 | 国产精品区一区二区免费 | 精品成人免费一区二区在线播放 | 日本一区二区三区四区无限 | 成人三级做爰在线观看男女 | 中文字幕有码在线观看 | 欧美成人免费一级人片 | 日本一区二区三区四区五区 | 久久久久国产精品免费免费 | 欧美中文在线 | 在线满18网站观看视频 | 91欧洲在线视精品在亚洲 | 国产手机国产手机在线 | 欧美日韩中文一区二区三区 | 日本欧美一区二区三区片 | 我们2018在线完整免费观看 | 成人高清在线观看播放 | 亚洲在线免费观看 | 美国一级毛片片aa免 | 国产系列在线观看 | 日韩欧美一级a毛片欧美一级 | 九热视频在线观看 | 亚洲图片视频在线观看 | 日韩aⅴ在线观看 | 亚洲高清免费视频 | 国产成人午夜片在线观看 | 亚洲一区二区三区精品国产 | 亚洲国产成人在人网站天堂 | 亚洲国产精品看片在线观看 | 国产下药迷倒白嫩丰满美女j8 | 亚洲视频在线观看视频 | 日韩欧美二区 | 国产在线不卡视频 |