GM Bondholders Rally To Oppose Debt-For-Equity Offer
He was flanked by other bondholders, many of them retirees, who held handwritten signs with messages such as, “Small Bondholders Must Have Their Say.” Members one by one stepped to a lectern and described how they had purchased GM bonds years ago to save for retirement or to finance their children’s college educations. Now, they said, their investments stand to be wiped out under a deal one bondholder called “stunningly unfair.”
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