GM to repay loan before June


April 20, 2010 at 12:00a.m.

Associated Press

DETROIT

General Motors Co. will fully repay the $6.7 billion loan portion of its U.S. government aid earlier than its previously promised payback date of June, a person briefed on the plans said Monday.

GM CEO Ed Whitacre will announce details of the repayment during a visit Wednesday to the company’s Fairfax Assembly Plant in Kansas City, Kan., said the person, who did not want to be identified because the announcement has not been made.

Whitacre will travel to Washington, D.C., after the announcement to meet with House Speaker Nancy Pelosi and the Michigan congressional delegation.

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