General Motors Prices $2.25 Billion of Senior Unsecured Notes

Rhea-AI Summary

General Motors Co. (NYSE: GM) has priced two series of senior unsecured fixed rate notes totaling $2.25 billion. The offering includes $1 billion in 5.40% notes due in 2029 and $1.25 billion in 5.60% notes due in 2032, with settlement scheduled for August 2, 2022. Proceeds will fund projects under GM's Sustainable Finance Framework. The company has filed a registration statement with the SEC regarding this offering.

Positive

• Successful pricing of $2.25 billion in senior unsecured notes.
• Proceeds will support GM's Sustainable Finance Framework.

Negative

• None.

DETROIT, July 28, 2022 /PRNewswire/ -- General Motors Co. (NYSE: GM) announced today the pricing of two series of senior unsecured fixed rate notes for a total of $2.25 billion. These notes include $1.0 billion of 5.40 percent notes due in 2029 and $1.25 billion of 5.60 percent notes due in 2032. The offering is expected to settle on August 2, 2022.

GM intends to use the net proceeds from the sale of the notes to finance or refinance, in whole or in part, eligible projects described in GM's Sustainable Finance Framework.

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:

Barclays Capital Inc.

c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 (or by email at barclaysprospectus@broadridge.com or telephone at 1-888-603-5847)

BNP Paribas Securities Corp.

787 7th Avenue, 3rd Floor New York, New York 10019 or by calling toll-free at 1-800-854-5674

BofA Securities, Inc.

200 North College Street, NC1-004-03-43, Charlotte, North Carolina 28255-0001, Attn: Prospectus Department, Toll-free: 1-800-294-1322, E-mail: dg.prospectus_requests@bofa.com

Citigroup Global Markets Inc.

c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by telephone at 1-800-831-9146

Credit Agricole Securities (USA) Inc.

Attention: Fixed Income Syndicate, 1301 Avenue of the Americas, 17th Floor, New York, New York 10019 or by calling toll-free at 1-866-807-6030

Goldman Sachs & Co. LLC

Attention: Prospectus Department, 200 West Street, New York, New York 10282, telephone: 1-866-471-2526, facsimile: 212-902-9316 or by emailing prospectus-ny@ny.email.gs.com

J.P. Morgan Securities LLC

383 Madison Avenue, New York, New York, 10179, Attention: Investment Grade Syndicate Desk, 3rd Floor, telephone collect at 1-212-834-4533

Morgan Stanley & Co. LLC

Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, New York 10014 or by calling toll-free at 1-866-718-1649

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.

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac and Baojun and Wuling brands.

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.

FAQ

What is the total amount General Motors raised from the recent note offering?

General Motors raised a total of $2.25 billion from their recent senior unsecured notes offering.

When will GM's new senior unsecured notes settle?

The new senior unsecured notes offered by GM are expected to settle on August 2, 2022.

What are the interest rates for GM's new notes?

The new notes include 5.40% notes due in 2029 and 5.60% notes due in 2032.

What will GM do with the proceeds from the note offering?

GM plans to use the net proceeds to finance or refinance eligible projects outlined in their Sustainable Finance Framework.