NEW YORK (Commodity Online): Multinational car maker, General Motors Co showed signs of recovery as the company generated USD 3.3 billion in cash in the Q3 of the current fiscal.

The company would start repaying the government loan from the raised funds. The company has USD 42.6 billion as cash-on-hand at the end of September after the US administration resorted to the restructuring process.

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The U.S. government is owed USD 6.7 billion and also owns a 61% stake in the biggest domestic automaker, which said it still expects an initial public offering in 2010’s second half.

The company today announced that the loss since leaving Chapter 11 on July 10 was USD 1.15 billion.

The results offered the first glimpse of Detroit-based GM’s financial performance since shedding the remnants of the old General Motors Corp on July 10. GM’s 8.375% bonds maturing in 2033, which will convert into equity in the new company, jumped 2.63 cents to 20.3 cents on the dollar on New York, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority.

Third-quarter revenue was $28 billion, including $26.4 billion for the post-bankruptcy period. GM reported unaudited data for July 1 through July 9 for General Motors Corp., and for the period since July 10.

The borrowing from the U.S., Canadian and Ontario governments will be repaid in quarterly installments from escrowed funds, beginning in December with an initial USD 1.2 billion payment, GM said. GM filed for bankruptcy on June 1, and the loans had a scheduled maturity date of July 2015.

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