GM To Accelerate Loan Repayment

News: US automaker General Motors Company(GM) plans to begin repayments worth US$6.7bn out of a total US treasury loan of US$49.4bn by the end of 2009, five years sooner than planned. The earlier than expected repayments are attributed to relatively better sales by the automaker in October 2009. GM will start repaying US$1bn quarterly installments of the loan on December 31. In addition, GM will also begin repayments of a US$1.4bn loan to Canada at US$200mn per quarter.

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