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General Motors Prices $2.0 Billion of Senior Unsecured Notes
Prnewswire· 2025-05-05 21:22
Core Viewpoint - General Motors (GM) has announced the pricing of three series of senior unsecured fixed rate notes totaling $2.0 billion, aimed at refinancing existing debt and funding a joint venture with LG Energy Solution [1][2]. Group 1: Financial Details - GM is issuing $750 million of 5.350% notes due in 2028, $750 million of 5.625% notes due in 2030, and $500 million of 6.250% notes due in 2035 [1]. - The offering is expected to settle on May 7, 2025 [1]. - The net proceeds will be used to refinance a portion of $1.25 billion of 6.125% senior notes maturing on October 1, 2025, and to fund part of a $1.8 billion five-year term loan to Ultium Cells LLC [2]. Group 2: Regulatory and Investor Information - GM has filed a registration statement with the SEC, including a prospectus and preliminary prospectus supplement for the offering [3]. - Prospective investors are encouraged to review the prospectus and other documents filed with the SEC for comprehensive information [3]. Group 3: Company Overview - GM is focused on advancing transportation technology to create safer, smarter, and lower-emission vehicles, including a wide range of electric vehicles (EVs) [5].
General Motors Offers Senior Unsecured Notes
Prnewswire· 2025-05-05 13:38
Core Viewpoint - General Motors (GM) has launched an offering of senior unsecured fixed rate notes to refinance existing debt and fund a loan to its joint venture, Ultium Cells LLC, aimed at facilitating the prepayment of loans received under the U.S. Department of Energy's program [1][2] Group 1: Financial Details - GM intends to use the net proceeds from the sale of the notes for general corporate purposes, including refinancing a portion of the $1.25 billion outstanding of its 6.125% senior notes maturing on October 1, 2025 [1] - The company has agreed to provide a $1.8 billion five-year term loan to Ultium Cells LLC [1] Group 2: Regulatory and Offering Information - GM has filed a registration statement with the Securities and Exchange Commission (SEC) for this offering, which includes a prospectus and preliminary prospectus supplement [2] - The documents related to the offering are publicly available for free on the SEC's EDGAR website [3] Group 3: Company Overview - GM is focused on advancing transportation technology to create safer, smarter, and lower-emission vehicles, including a wide range of electric vehicles (EVs) [4]