General Motors Co., said to be exploring as much as another $5 billion in short-term credit, is seeking to secure low borrowing costs as it pours billions in cash into new products and pension obligations.
GM may seek $4 billion to $5 billion in additional revolving credit from some of the lenders that provided its current line of credit, said a person familiar with the discussions who asked not to be identified because the plans are private. GM declined to comment in an Aug. 24 e-mail.
Akerson is also looking at ways to improve GM’s customer and dealer financing. GM in July made a bid for Ally Financial Inc.’s international operations, which, if successful, could more than double the consolidated assets of GM Financial Co., the automaker’s lending arm. Ally used to be known as GMAC Inc. and had been GM’s financial-services unit.