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bond issue |
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| In a sharp reversal of a decade-old policy, the Los Angeles City Council on Wednesday ordered that a $500 million bond issue be negotiated with a consortium of lenders rather than awarded through a competitive bidding process. GM trumpeted its bond issue as a tidy way for it to deal with the liabilities, but the three major rating agencies felt differently. THE GOVERNMENT, in its first bond issue in more than 70 years, emitted US$500 million in global bonds. |
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