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General Motors Financial plans fixed, floating notes in three parts
By Devika Patel
Knoxville, Tenn., Jan. 2 – General Motors Financial Co. Inc. (Baa3/BBB/BBB-) intends to offer senior notes in three tranches, according to a 424B5 filing with the Securities and Exchange Commission.
The notes will be sold in two fixed-rate tranches and one floating-rate tranche, with one of the fixed-rate tranches and the floating-rate tranche due in 2023 and the remaining fixed-rate tranche due in 2028.
The floaters are non-callable and the fixed-rate notes feature a make-whole call and then a par call.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Lloyds Securities, Mizuho Securities USA Inc., Scotia Capital (USA) Inc. and SMBC Nikko are the bookrunners.
Proceeds will be used for general corporate purposes.
General Motors Financial is the Fort Worth-based finance subsidiary of General Motors Co.
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