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GM's bonds fall ahead of expected restructuring plan

Mon Dec 1, 2008 8:54am EST

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.

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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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