General Motors Financial sets early talk in benchmark two-part notes offering; pricing Monday

By Paul A. Harris

Portland, Ore., Sept. 22 – General Motors Financial Co., Inc. set initial price guidance for a benchmark two-part offering of dollar-denominated non-callable senior notes (existing ratings Ba1/BB-) on Monday, according to a market source.

A tranche of three notes is talked to yield in the 3 1/8% area.

A tranche of seven-year notes is talked to yield in the mid-4% context.

Tranche sizes remain to be determined.

The public offering is set to price Monday.

Deutsche Bank Securities Inc., Bradesco BBI, Goldman Sachs & Co., Lloyds Securities and Morgan Stanley & Co. LLC are the joint bookrunners.

BB Securities, CIBC World Markets, RBC Capital Markets, Sandler O’Neill, Scotia Capital, Loop Capital Markets and Siebert Capital Markets are the co-managers.

The Fort Worth-based finance subsidiary of General Motors Co. plans to use the proceeds for general corporate purposes.

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