General Motors restates $6.3 billion in two revolvers, amends $11.2 billion facility

Chicago, April 7 – General Motors Co. amended and restated two revolvers for a total of $6.3 billion on Wednesday, both with JPMorgan Chase Bank, NA listed as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

GM amended its $4.3 billion three-year facility due April 7, 2024 and its 364-day revolver in the amount of $2 billion which matures on April 6, 2022.

Use of the facilities is available to GM as well as certain of its wholly owned subsidiaries, however the 364-day revolver has been allocated by GM for the exclusive use of General Motors Financial Co., Inc.

The three-year facility can have borrowings in dollars and other currencies, but the 364-day revolver is only available in dollars.

Interest rates are based on a grid tied to ratings.

On the three-year revolver, Citibank, NA is the syndication agent with Bank of America, NA as co-syndication agent.

Citigroup Global Markets Inc. is the global coordinator, joint lead arranger and joint bookrunner.

Joint bookrunners, joint lead arrangers and documentation agents are ICBC Ltd. New York Branch, Lloyds Bank plc, TD Bank, New York Branch, Barclays, Banco Bilbao Vizcaya Argentaria, SA New York Branch, BNP Paribas, Commerzbank AG, New York Branch, Credit Agricole CIB, Deutsche Bank Securities Inc. Goldman Sachs Bank USA, Intesa Sanpaolo SpA New York Branch, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Royal Bank of Scotland plc, Sumitomo Mitsui Banking Corp., Societe Generale and Bank of Nova Scotia.

Joint bookrunners and joint lead arrangers also include Bank of America, NA, RBC Capital Markets and Santander Bank, NA.

Royal Bank of Canada is also a documentation agent.

For the 364-day revolver Citigroup Global Markets Inc. is the global coordinator, joint lead arranger and joint bookrunner.

Joint bookrunners, joint lead arrangers and documentation agents are Lloyds Bank plc, TD Bank, New York Branch (as regional coordinators), Barclays, Banco Bilbao Vizcaya Argentaria, SA New York Branch, BNP Paribas, Credit Agricole CIB, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., National Westminster Bank plc, Sumitomo Mitsui Banking Corp., Societe Generale and Bank of Nova Scotia.

Bank of America, NA is a co-syndication agent and a joint bookrunner and joint lead arranger. Citibank, NA is a syndication agent. Santander Bank, NA is also a joint bookrunners and joint lead arranger.

RBC Capital Markets was also a joint bookrunners and joint lead arranger.

Commerzbank AG, New York Branch and Royal Bank of Canada are documentation agents.

Five-year revolver

Additionally, GM entered into a first amendment on its now $11.2 billion five-year revolving credit facility, increased in size from $10.5 billion. JPMorgan is also the administrative agent and Citibank is also the syndication agent.

For $9.9 billion of the facility, the termination date was moved to April 18, 2026 while the remaining portion remains unchanged.

On the amended $11.2 billion facility, Citigroup Global Markets Inc. is the global coordinator, joint lead arranger and a joint bookrunner.

ICBC Ltd. New York Branch, Lloyds Bank plc, TD Bank, New York Branch, Barclays, Banco Bilbao Vizcaya Argentaria, SA New York Branch, BNP Paribas, Commerzbank AG, New York Branch, Credit Agricole CIB, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Intesa Sanpaolo SpA – New York Branch, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Royal Bank of Scotland plc, Sumitomo Mitsui Banking Corp., Societe Generale and Bank of Nova Scotia were joint bookrunners, joint lead arrangers and documentation agents.

Banco do Brasil SA and Banco Bradesco SA are co-Latin American regional coordinators with Banco do Brasil the Brazilian administrative agent.

Bank of America, NA is co-syndication agent, joint bookrunner and joint lead arranger.

RBC Capital Markets is a joint bookrunners and joint lead arranger and Royal Bank of Canada is a documentation agent.

Santander Bank, NA is a joint bookrunners and joint lead arranger.

General Motors is a Detroit-based automaker.

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