April 21, 2010 / 3:27 PM / 10 years ago

General Motors repays TARP loan in full-US Treasury

WASHINGTON, April 21 (Reuters) - The U.S. Treasury Department confirmed on Wednesday that automaker General Motors Co [GM.UL] has repaid the $4.7 billion balance in Trouble Asset Relief Program debt it owed.

The repayment comes five years ahead of the loan maturity date and ahead of the accelerated repayment schedule the company announced last year, Treasury said.

“We are encouraged that GM has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability,” Treasury Secretary Timothy Geithner said in a statement. (Reporting by Nancy Waitz; editing by Patrick Graham)

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