Seems like most everyone is turning more and more to gold these days. Its appeal has even caught the fancy of giant General Motors, which obviously recognizes the attraction it holds.
The big firm’s Canadian arm, General Motors of Canada Ltd., is going to use gold to sweeten up a financing offer of 120 million Swiss francs ($111 million) of 2.75 per cent non-callable notes with gold warrants attache d, due June 30, 1992. Each 50,000 franc note will carry five warrants entitling the holder to buy five ounces of gold each at a price of $510(US) an ounce at any time between June 30, 1987 and Nov 22, 1988.
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