UPDATE 1-Banks asked about GM lending lines pre-IPO-CNBC

* Mack says banks being asked about GM lending lines-CNBC

* Deutsche Bank lost NXP IPO spot after canceling lending

NEW YORK, June 7 (BestGrowthStock) – Morgan Stanley (MS.N: ) (Read more about the money market today. ) Chairman
John Mack said that banks wanting to participate in the initial
public offering of General Motors Co [GM.UL] were being asked
about lending lines for the ailing U.S. automaker.

When asked in an interview with CNBC if lending lines would
be an underwriting prerequisite, Mack said, “That’s certainly
part of the discussion.”

Deutsche Bank in April lost its underwriting spot on
Kohlberg Kravis Roberts & Co [KKR.UL] IPO of Dutch
semiconductor company NXP Semiconductors because it refused to
renew a line of credit for the company. [ID:nN13252838]

GM is moving toward an IPO after the U.S. government
acquired 61 percent of its shares in a $50 billion bailout of
the carmaker, which emerged from a government-sponsored
bankruptcy last July.

Canada and the province of Ontario own nearly 12 percent.

Investment

(Reporting by Clare Baldwin)

UPDATE 1-Banks asked about GM lending lines pre-IPO-CNBC