LONDON -- General Motors plans to issue a 350 million sterling bond this week as part of its multi-tranche bond sale, an investor said on Wednesday.
GM plans to raise $13 billion to cover pension shortfalls.
The sterling 2015 bond will be issued by GM Nova Scotia and is seen pricing at between 387.5 and 400 basis points over the swaps curve, the investor said.
GM also plans to sell 10, 20 and 30-year dollar bonds and 10- and 30-year euro bonds, an investor said on Tuesday.
Finance unit General Motors Acceptance Corp. plans to sell $3 billion in debt, split into a three-year dollar bond, a two-year euro-denominated floating-rate note and a five-year euro bond, the sources said.