GM starts roadshow for $500 million seven-year senior notes

By Paul A. Harris

Portland, Ore., May 23 - General Motors Finance Corp. started a roadshow on Monday for a $500 million offering of non-callable seven-year senior notes, according to a market source.

The roadshow wraps up on Wednesday. The deal is set to price on Thursday.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the joint physical bookrunners for the Rule 144A with registration rights offering.

C.L. King, Kaufman Bros. and Toussaint Capital are the co-managers.

The notes feature a Treasuries plus 50 basis points make-whole call provision.

Credit ratings remain to be determined.

The Detroit-based automotive company plans to use the proceeds for general corporate purposes and to redeem its 8½% senior notes due 2015.

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