General Motors enters $6 billion 364-day revolving facility

By Mary-Katherine Stinson

Lexington, Ky., Oct. 4 – General Motors Co. entered into a 364-day revolving facility that provides a borrowing capacity of $6 billion, according to an 8-K filing with the Securities and Exchange Commission.

The facility matures Oct. 1, 2024.

Borrowings will bear interest at SOFR plus an applicable margin, based on the company’s long-term debt credit rating.

The facility also requires that General Motors maintain at least $4 billion of global liquidity and at least $2 billion of U.S. liquidity.

The joint lead arrangers and joint bookrunners are JPMorgan Chase Bank, NA, also the administrative agent and a global coordinator; Citibank, NA, also the syndication agent and a global coordinator; and documentation agents Barclays, Banco Bilbao Vizcaya Argentaria SA New York Branch, BNP Paribas, Credit Agricole CIB, Deutsche Bank Securities Inc., Goldman Sachs Bank USA, Bank of America, NA, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Sumitomo Mitsui Banking Corp., Societe Generale, Bank of Nova Scotia, Banco Santander, SA, New York Branch, Intesa Sanpaolo SpA, New York Branch, Lloyds Bank plc, Toronto Dominion Bank, New York Branch and Wells Fargo Bank NA.

RBC Capital Markets Royal Bank of Canada and Industrial and Commercial Bank of China Ltd., New York Branch are additional documentation agents.

General Motors is a Detroit-based automobile company.

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