Delphi Automotive has provided details for its $3 billion debt financing to buy back an equity stake General Motors, Bloomberg reports. The U.S. auto-parts maker’s financing includes a $2.25 billion term loan B. The Michigan-based company has secured a $250 million term loan A and a $500 million revolving credit line, due in five years from JP Morgan Chase. Delphi, which is acquiring GM’s stake for $3.8 billion, is also purchasing the Pension Benefit Guaranty Corporation’s ownership stake for $594 million.
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