General Motors’ subsidiary GM Daewoo Auto & Technology will fully repay its Korean revolving credit facility this month, the parent company said.

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The facility had a drawn balance of US$1bn as of 30 September, 2010.

General Motors CFO Chris Liddell said, “Following our successful IPO, we will continue to take opportunities to strengthen our balance sheet. Our objective remains to have minimal debt and a fully funded pension plan.”

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