GM Financial to price benchmark two-part bullet offering Monday

By Paul A. Harris

Portland, Ore., July 7 – General Motors Financial Co., Inc. plans to price a benchmark offering of non-callable three-year and five-year senior notes (Ba2/BB-/BB+) in a quick-to-market Monday transaction, according to market sources.

The expected overall amount is $500 million, sources say, adding that the public deal is being priced on the investment-grade desk.

Credit Suisse Securities (USA) LLC, Barclays, BofA Merrill Lynch and Citigroup Global Markets Inc. are the joint bookrunners.

BBVA, Credit Agricole CIB, Mizuho Securities, TD Securities, Drexel Hamilton, Ramirez & Co., Inc. and Williams Capital Group, LP are the co-managers.

The Fort Worth auto finance company, a wholly owned subsidiary of GM, plans to use the proceeds for general corporate purposes.

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