DETROIT — General Motors Corporation is preparing to launch a public bond-exchange offer to wipe out most of its $28 billion unsecured debt by June 1 to avoid bankruptcy. President Barack Obama gave the company 60 more days to get the concessions it needs. GM spokeswoman Julie Gibson said “We have a large pool of people we need to reach, and the only way to do that is through a public offering.” The company has thousands of bondholders who must soon decide whether to participate in an offer and ensure they get at least a small amount of their investment [...]
