GM's bonds fall ahead of expected restructuring plan

NEW YORK Mon Dec 1, 2008 8:54am EST

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NEW YORK Dec 1 (Reuters) - General Motors Corp's (GM.N) bonds fell nearly 12 percent early on Monday as investors awaited a new turnaround plan from the automaker aimed at winning support for emergency government funding.

GM's 7.125 percent notes due in 2013 fell to 23 cents on the dollar, down from 26 cents on Friday, according to MarketAxess. GM is due to submit a restructuring plan by Tuesday, the same day that November sales from major automakers are expected to show only a limited bounce from 25-year lows. For details click on [ID:nN30477996]. (Reporting by Dena Aubin; Editing by Theodore d'Afflisio) (dena.aubin@thomsonreuters.com; +1-646-223-6325; Reuters Messaging: dena.aubin.reuters.com@reuters.net))

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