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GM May Double Credit Line

Expansion would ensure ample cash for automaker, analyst says.

By Tim Higgins, Bloomberg | Updated on August 27, 2012

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.

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