Residential Capital Corp. has launched its first debt issuance in the European market.The offering consists of 750 million euros (about $966 million) of 5.125% notes due in 2012 and £400 million (approximately $756 million) of 6.375% notes due in 2013. The company said it intends to use the proceeds of the offerings to repay international borrowings from its parent company, General Motors Acceptance Corp., and for general corporate purposes.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry