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GM Bondholders to Meet Obama Auto Task Force

CNBC.com with Wires
Tuesday, 3 Mar 2009 | 3:44 PM ET
GM Bondholders to Meet W/ Auto Task Force
General Motors bondholders to meet Obama auto task force on Thursday, reports CNBC's Phil LeBeau.

Members of the General Motors bondholders committee will be meeting with President Barack Obama’s auto task force on Thursday in Washington, CNBC has confirmed.

GM's negotiations with bondholders who represent more than $27 billion of debt remains one of the biggest unresolved issues the company faces ahead of a March 31 deadline to demonstrate to U.S. officials that it can be made viable.

GM has borrowed $13.4 billion from the U.S. Treasury, and 10 days ago said it would seek up to $16.6 billion more.

This is the first chance for the bondholders committee to sit down face to face with members of the task force.

—Reuters contributed to this story.

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