GM announces repayment of additional $1 billion of debt

General Motors

General Motors Company announced November 30 that its GM Daewoo Auto & Technology Inc. subsidiary (GM Daewoo) will fully repay its Korean revolving credit facility this month. The facility had a drawn balance of $1 billion (USD) as of September 30, 2010.

General Motors chief financial officer Chris Liddell said, “Following our successful IPO, we will continue to take opportunities to strengthen our balance sheet. Our objective remains to have minimal debt and a fully funded pension plan.”

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