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GM secures new US$6-billion line of credit as UAW strike costs rise

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The new line of credit will bolster GM’s balance sheet against a protracted strike that could widen to cut off production of its most profitable vehicles

The additional liquidity will require GM to maintain at least $4-billion in global liquidity and $2-billion in U.S. liquidity. The terms of the credit agreement also restrict GM from mergers or sales of assets and limits on other, new debt.

 

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