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General Motors Financial Bonds Rise After $2.5 Billion Offering

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May 9 (Bloomberg) -- Bonds of General Motors Co.’s lending unit rose after the company issued more debt than it had previously forecast with a $2.5 billion offering.

General Motors Financial’s $750 million of 4.25 percent notes due May 2023, which the unit issued at par, traded at 103 cents on the dollar to yield 3.89 percent at 8:54 a.m. in New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

The company also sold $750 million of 3.25 percent debt due 2018 and $1 billion of 2.75 percent securities maturing 2016 in an offering originally marketed at $2 billion.

To contact the reporter on this story: Charles Mead in New York at cmead11@bloomberg.net

To contact the editor responsible for this story: Alan Goldstein at agoldstein5@bloomberg.net

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