Change font size:   

 
Abigail Hofman:

Abigail Hofman:

I wonder if ______ is an extremely optimistic person or in a cocoon of senior management denial

No. 6: If you don’t give it to me you’ll only lend it to someone else and look where that got us

May 2006

Debt round up: ResCap pays back domestic sub debt early

ResCap was able to pay back its domestic debt owed to GMAC ahead of market expectations following a $3.5 billion multi-tranche transaction ($1 billion of three-year sub, and $2.5 billion of senior – split into $1.75 billion of seven-year and $750 million of three-year).




When ResCap was hived off from GMAC it did so with the backing of $5 billion of 10-year subordinated debt. The goal was to pay back GMAC quickly, circa 2007 but in November 2005 ResCap...


You must be a Level 2 subscriber to access this archived content. 
If your subscription includes access to the archive, please log in now to view. 

To gain access to this content visit the subscription page or call our hotline on +44 (0)207 779 8999.
Subscribe online now and save up to 30% on your subscription.



Subscribe

Subscribers to Euromoney benefit from:
    
Level 1:

  • Online access to the past 12 months content
  • Tailored RSS news feeds direct to your desktop
  • News delivered directly to your mobile device or PC
  • Personalised email newsfeed of 'Top stories' and 'Breaking news'

    Level 2:

  • Exclusive access to euromoney.com - Read the latest issue early online, search for specific developments by region or sector, interrogate the results of Euromoney's benchmark polls, and view the archive dating back to 2000
  • 12 monthly issues of Euromoney magazine
  • More than 30 specialist research guides free
  • The results of Euromoney’s polls and surveys
  • Tailored RSS news feeds direct to your desktop
  • News delivered directly to your mobile device or PC
  • Personalised email newsfeed of 'Top stories' and 'Breaking news'

Click here to subscribe




Ruromoney Jobs Post a job