DETROIT, May 7, 2020 /PRNewswire/ -- General Motors Co.
(NYSE: GM) announced today the pricing of three series of senior
unsecured notes for a total of $4.0
billion. These notes include $1.0
billion of 5.40 percent notes due in 2023, $2.0 billion of 6.125 percent notes due in 2025
and $1.0 billion of 6.80 percent
notes due in 2027. The offering is expected to settle on
Tuesday, May 12, 2020. In addition,
following the closing of the notes offering, GM expects to enter
into a new 364-Day Revolving Credit Agreement, subject to certain
closing conditions. We expect the New 364-Day Revolving Facility to
be unsecured and to provide available borrowing capacity of
approximately 2 billion in U.S. dollars, and we have received
commitments from lenders in excess of this amount.
GM intends to use the net proceeds from the sale of the notes
for general corporate purposes.
GM has filed a registration statement, including a prospectus
and preliminary prospectus supplement, with the SEC for this
offering. Prospective investors should read the prospectus in that
registration statement, the preliminary prospectus supplement and
other documents GM has filed with the SEC for more complete
information about GM and this offering. The documents are available
for free by visiting EDGAR on the SEC website at sec.gov.
Alternatively, copies of the preliminary prospectus supplement
and the accompanying prospectus may be obtained by contacting the
book-running manager:
Deutsche Bank Securities Inc.
Attention: Prospectus Group
60 Wall Street, New York, NY
10005
800-503-4611
prospectus.CPDG@db.com
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. Any offer or sale of these securities will be made
only by means of a prospectus, including a prospectus supplement,
forming a part of the related registration statement.
Cautionary Note on Forward-Looking Statements: This
press release contains forward-looking statements that represent
our current judgment about possible future events. In making these
statements we rely on assumptions and analysis based on our
experience and perception of historical trends, current conditions
and expected future developments as well as other factors we
consider appropriate under the circumstances. We believe these
judgments are reasonable, but these statements are not guarantees
of any events or financial results, and our actual results may
differ materially due to a variety of important factors, both
positive and negative. A list and description of these factors can
be found in our Annual Report on Form 10-K and our subsequent
filings with the U.S. Securities and Exchange Commission. We
caution readers not to place undue reliance on forward-looking
statements. We undertake no obligation to update publicly or
otherwise revise any forward-looking statements, whether as a
result of new information, future events or other factors that
affect the subject of these statements, except where we are
expressly required to do so by law.
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SOURCE General Motors Co.