GM taps equity-linked market with $2.5bn issue

General Motors, the US auto company, is to offer a $2.5bn (€2.9bn) in a convertible bond, which will be the third equity-linked issue in the US auto sector since December.

The auto manufacturer's move follows Ford's record $4.5bn convertible offer a month ago, an issue so popular that the offering was raised by 50%.

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