International Business News - ResCap http://www.ibtimes.com All articles are copyrighted by IBTimes.com 400 100 http://www.ibtimes.com/ http://www.ibtimes.com/images/top_logo_ibt2_3.gif Finance company GMAC LLC has obtained a new $11.4 billion credit line and will use part of it to fund a $3.5 billion credit line for mortgage subsidiary Residential Capital LLC, GMAC said in a filing with the Securities and Exchange Commission. http://www.ibtimes.com/articles/20080609/gmac-gets-new-credit-line-as-part-of-rescap-financing.htm Mon, 09 Jun 2008 18:58:01 EDT GMAC LLC said Wednesday it completed a more than $60 billion refinancing and funding package aimed at improving the liquidity of its struggling subsidiary, mortgage lender Residential Capital LLC. http://www.ibtimes.com/articles/20080604/rescap-posts-results-of-debt-exchange.htm Wed, 04 Jun 2008 16:24:55 EDT Residential Capital LLC, the mortgage lending unit of GMAC LLC, said Tuesday it needs more than three times more cash to stay in business than it estimated just weeks ago. http://www.ibtimes.com/articles/20080604/rescap-says-needs-more-liquidity.htm Wed, 04 Jun 2008 10:03:03 EDT Residential Capital LLC, GMAC's struggling mortgage lending unit, said Wednesday it is extending the deadline for bondholders to swap $14 billion of notes to 9 a.m. EDT, in a move to restructure debt obligations and stave off bankruptcy. http://www.ibtimes.com/articles/20080604/rescap-extends-debt-swap-deadline-to-9-a-m-edt.htm Wed, 04 Jun 2008 08:00:44 EDT Residential Capital LLC, the mortgage lending unit of GMAC LLC, said Tuesday it needs more than three times more cash to stay in business than it estimated just weeks ago. http://www.ibtimes.com/articles/20080603/rescap-expands-credit-facility-with-gmac.htm Tue, 03 Jun 2008 15:21:45 EDT Residential Capital LLC, the real estate lending unit of GMAC LLC, said Thursday about two-thirds of the more than $14 billion in debt it plans to exchange for new debt or cash has been tendered by investors. http://www.ibtimes.com/articles/20080522/rescap-says-two-thirds-of-14b-in-debt-tendered.htm Thu, 22 May 2008 08:13:22 EDT Credit ratings agency Fitch Ratings said Wednesday it placed Residential Capital LLC's primary servicing rating on negative watch. ResCap is the mortgage lending unit of financial-services company GMAC LLC. http://www.ibtimes.com/articles/20080521/fitch-reviewing-rescaps-servicer-ratings.htm Wed, 21 May 2008 10:31:19 EDT Residential Capital LLC, the real estate financing unit of GMAC LLC, said Monday it received enough tender offers to exchange current debt for new debt that it can continue the refinancing effort. http://www.ibtimes.com/articles/20080519/rescap-debt-tender-offers-meet-requirements.htm Mon, 19 May 2008 14:44:33 EDT Residential Capital LLC, the real estate lending unit of GMAC LLC, said Monday it is taking steps _ including redeeming outstanding debt at less than face value, tapping new credit lines and selling assets _ to alleviate a near-term liquidity crisis. http://www.ibtimes.com/articles/20080505/rescap-facing-liquidity-crunch-trying-to-raise-new-cash.htm Mon, 05 May 2008 15:18:38 EDT Residential Capital LLC, the real estate finance unit of GMAC Financial Services, said Friday it plans to offer an exchange of debt for $12.8 billion in outstanding notes and a cash tender offer for an additional $1.2 billion in debt. http://www.ibtimes.com/articles/20080502/rescap-offers-exchange-and-tender-offers-for-14b-in-debt.htm Fri, 02 May 2008 09:52:45 EDT Mortgage lender Residential Capital has already tapped much of a new $750 million line of credit offered by its parent GMAC. Bloomington-based ResCap has serious financial problems because it was a major subprime lender. http://www.ibtimes.com/articles/20080424/gmac-loans-rescap-mortgage-unit-468-million.htm Thu, 24 Apr 2008 12:47:40 EDT Residential Capital LLC, GMAC LLC's troubled mortgage loan business, on Wednesday said it named Thomas Marano, a former Bear Stearns & Co. executive, as its nonexecutive chairman. http://www.ibtimes.com/articles/20080423/rescap-names-former-bear-stearns-exec-as-chairman.htm Wed, 23 Apr 2008 10:48:56 EDT