General Motors Financial talks benchmark notes in three tranches due 2018, 2022

By Aleesia Forni

Virginia Beach, April 7 – General Motors Financial Co., Inc. plans to price a benchmark offering of senior notes (Ba1/BBB-/BB+) on Wednesday in three parts, according to market sources and a 424B5 filing with the Securities and Exchange Commission.

The offering will include fixed- and floating-rate notes due 2018, along with fixed-rate notes due 2022.

The three-year fixed-rate notes are talked in the 165 basis points area over Treasuries, and the seven-year fixed-rate notes are talked in the area of 190 bps over Treasuries.

Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, RBC Capital Markets LLC and TD Securities are the joint bookrunners.

The notes will feature a change-of-control put at 101%.

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

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