General Motors offers floating-, fixed-rate notes in three parts

By Mary-Katherine Stinson

Lexington, Ky., April 1 – General Motors Financial Co., Inc. is offering senior notes in three parts, according to a 424B5 filing with the Securities and Exchange Commission.

General Motors plans to price floating-rate senior notes due 2029, fixed-rate senior notes due 2029 and fixed-rate senior notes due 2034.

The floaters will bear SOFR-based interest and will not be callable.

The fixed-rate notes will have an optional make-whole call until a number of months prior to maturity followed by an optional par call. The 2029 notes will have a one-month par call and the 2034 notes will have a three-month par call.

Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, RBC Capital Markets, LLC, SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC are the joint bookrunners.

Computershare Trust Co., NA is the trustee.

Latham & Watkins LLP will be counsel to the issuer. Davis Polk & Wardwell LLP will represent the underwriters.

Proceeds will be used for general corporate purposes.

The Fort Worth, Tex.-based issuer is the finance subsidiary of General Motors Co. and a provider of automobile financing.

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