General Motors Co. has started repaying its bailout loans to the US and Canadian governments. So far, GM has paid the US government $1 billion and the Canadian government $192 million. By June 2010, GM has to have repaid the US government $6.7 billion.

Apparently, the carmaker is confident that it will be able to meet these payments as it has released a brief statement to this effect. Currently, the US government owns 60% of GM however, it is seeking to offload its shares in an upcoming stock offering. Analysts predict that this stock offering will take place as early as the middle of next year.

[via autonews - sub. required]

Tags: car news, general motors, GM, gm bailout loans repay

This entry was posted on Tuesday, December 22nd, 2009 at 5:08 am and is filed under 2009, 4wheels News, Automakers, GM, U.S.A., Year, Zone. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.