Auto Finance News and AutoFinanceNews.net are pleased to welcome Nikki Mascali as associate editor. She’ll be posting regular blogs to the site and adding even more critical content to the publication.
Nikki joins the team from The Weekender, an award-winning weekly serving the Scranton/Wilkes-Barre, Pa., area. Nikki also served as senior copy writer and web editor at design company RAEast Inc. In her spare time, Nikki volunteers at the United Way and the American Red Cross.
Welcome, Nikki!
Nikki can be reached at 646-837-5955 or [email protected].
Marcie: This has been priced into GMAC debt since mid March. GMAC has several billion in callable bonds all with coupons above 6%. The FDIC debt so far has been priced below 2.3% and this upcoming traunch will probably be priced similarily. This will be very good news for existing GMAC bond holders as the market value of the existing GMAC debt will get market support and GMAC will begin calling their high coupon pieces as soos as possible. All of this restructuring will give GMAC a terrific leg up going into 2010 and will be enough to carry them into 2012. .Most of their current debt is callable in 2012 and after. GMAC is on a path to a very good looking balance sheet… add in an uptick in auto finance in 2011 and 2012 and we taxpayers stand to make a good return on our investment.
Welcome, Nikki! We’re so pleased you have joined the team!