Articles > Popular publications > PR Newswire press releases > July-September 1997 > Wednesday, August 20

Article: GM Commences Commercial Paper Program

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PR Newswire
Article date:
August 20, 1997
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NEW YORK, Aug. 20 /PRNewswire/ -- General Motors (NYSE: GM) announced today it will commence a commercial paper program during the week of August 25, 1997.

"GM's commercial paper program is a liquidity management tool that will reduce the volatility of GM's cash balances and lower the company's interest expense," said GM Vice President and Treasurer John Finnegan. "This program is part of GM's continuing efforts to restructure its debt portfolio."

GM's commercial paper program, which will be managed by the company's financing arm, General Motors Acceptance Corporation (GMAC), received the following ratings: Standard & Poor's, A2; Moody's ... 







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