GM to Pay Back Loans Before June 1 Deadline: Sources

Bailed-out automaker General Motors will repay the roughly $6 billion it owes to the US and Canadian governments before its previously announced deadline of June 1, CNBC has learned.

According to sources close to the matter, GM CEO Ed Whitacre will announce the new company-imposed deadline on Wednesday.

General Motors has already paid back around $1 billion of the $6.7 billion that it borrowed from the two governments.