General Motors to sell fixed-, floating-rate notes in two parts

By Devika Patel

Knoxville, Tenn., Nov. 1 – General Motors Financial Co. Inc. (Baa3/BBB/BBB-) intends to offer senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in one fixed-rate tranche and one floating-rate tranche, both due in 2021.

The floaters are not callable. The fixed-rate notes may be called at the greater of par and a make-whole call.

BBVA Securities Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Agricole CIB, Lloyds Securities and Mizuho Securities USA Inc. are the bookrunners.

Proceeds will be used for general corporate purposes.

General Motors Financial is the Fort Worth-based finance subsidiary of General Motors Co.

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