GM Financial talks benchmark notes in fixed-, floating-rate tranches due 2020; pricing Thursday

By Aleesia Forni

New York, Nov. 19 – General Motors Financial Co., Inc. plans to price a benchmark offering of senior notes (Ba1/BBB-/BBB-) on Thursday in fixed- and floating-rate tranches due 2020, according to a market source and a 424B5 filing with the Securities and Exchange Commission.

The fixed-rate tranche is talked in the 215 basis points to 220 bps range over Treasuries, and the floaters are talked at the Libor equivalent to the fixed-rate notes.

Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and RBC Capital Markets LLC are the joint bookrunners.

The notes will be guaranteed by the company’s operating subsidiary, AmeriCredit Financial Services, Inc.

General Motors Financial, the Fort Worth-based finance subsidiary of General Motors Co., plans to use the proceeds for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.