General Motors to sell fixed-rate, floating-rate notes in four parts

By Devika Patel

Knoxville, Tenn., Aug. 2 – General Motors Co. intends to offer notes (BBB/BBB) in four tranches, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be sold in three fixed-rate tranches and one floating-rate tranche.

The fixed-rate notes will have make-whole calls and par calls. The floaters will be non-callable.

Deutsche Bank Securities Inc., BofA Merrill Lynch, Morgan Stanley & Co. LLC, Goldman Sachs & Co. and J.P. Morgan Securities LLC are the bookrunners.

Proceeds will be used to repay debt under the company’s three-year revolving credit facility and for general corporate purposes.

General Motors is a Detroit-based automaker.

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