GM Financial eyes three-tranche sale of fixed-, floating-rate notes

By Devika Patel

Knoxville, Tenn., Oct. 3 – General Motors Financial Co. Inc. plans to price a three-tranche offering of notes, according to a 424B5 filing with the Securities and Exchange Commission.

The offering includes fixed-rate senior notes due 2019, fixed-rate senior notes due 2026 and floating-rate notes due 2019.

Interest on the floaters will be based on three-month Libor.

The floaters will be non-callable. The other notes have a make-whole call and then a par call.

The notes will be guaranteed by operating subsidiary AmeriCredit Financial Services, Inc.

BNP Paribas Securities Corp., BofA Merrill Lynch, Citigroup Global Markets Inc., Lloyds Securities and Mizuho Securities USA Inc. are the bookrunners.

Proceeds will be added to the company’s general funds and will be available for general corporate purposes.

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

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