General Motors plans three-part sale of fixed-, floating-rate notes

By Devika Patel

Knoxville, Tenn., April 10 – 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 2020, fixed-rate senior notes due 2024 and floating-rate notes due 2020.

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

Both of the fixed-rate notes have a make-whole call, and the 2024 notes will also have a par call. The floaters are non-callable.

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

BBVA Securities Inc., BofA Merrill Lynch, J.P. Morgan Securities LLC, Mizuho Securities USA Inc., Societe Generale CIB and TD Securities (USA) LLC 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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