DETROIT, Nov. 4, 2014 /PRNewswire/ -- General Motors Co.
(NYSE: GM) announced today the pricing of three series of senior
unsecured notes for a total of $2.5
billion. These notes include $500
million of 4.00 percent notes due in 2025, $750 million of 5.00 percent notes due in 2035
and $1.25 billion of 5.20 percent
notes due in 2045. The offering is expected to settle on
Nov. 12, 2014.
GM intends to use the net proceeds from the sale of the notes
toward the expected redemption of the Series A Preferred Shares on
or after December 31, 2014 and, to
the extent not used for the expected redemption, for general
corporate uses.
"Favorable market conditions made now the appropriate time to
add liquidity to further strengthen our fortress balance sheet and
improve our financial flexibility," said Chuck Stevens, GM executive vice president and
chief financial officer.
GM has filed a registration statement, including a prospectus
and preliminary prospectus supplement, with the SEC for the
offering to which this communication relates. Prospective investors
should read the prospectus in that registration statement, the
preliminary prospectus supplement and the other documents that GM
has filed with the SEC for more complete information about GM and
this offering. The documents are available for free by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, copies of
the preliminary prospectus supplement and the accompanying
prospectus may be obtained by contacting the joint book-running
managers at J.P. Morgan Securities LLC, 383 Madison Avenue,
New York, NY. 10179, Attention:
Investment Grade Syndicate Desk, Goldman, Sachs & Co., 200 West
Street, New York, NY. 10282,
Attention: Prospectus Department, or by calling (866) 471-2526 or
(212) 834-4533, or Morgan Stanley & Co. LLC, 180 Varick Street,
New York, NY. 10014, Attention:
Prospectus Department, or by calling (866) 718-1649.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction. Any offer or sale of these securities will be made
only by means of a prospectus, including a prospectus supplement,
forming a part of the related registration statement.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners
produce vehicles in 30 countries, and the company has leadership
positions in the world's largest and fastest-growing automotive
markets. GM, its subsidiaries and joint venture entities sell
vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden,
Jiefang, Opel, Vauxhall and Wuling brands.
Forward-Looking Statements
In this press release and in related comments by our management,
our use of the words "plans," "expect," "anticipate," "possible,"
"potential," "target," "believe," "commit," "intend," "continue,"
"may," "would," "could," "should," "project," "appears,"
"projected," "potential," "positioned," "outlook," "upside" or
similar expressions is intended to identify forward-looking
statements that represent our current judgment about possible
future events. We believe these judgments are reasonable, but these
statements are not guarantees of any events or financial results,
and our actual results may differ materially due to a variety of
important factors. Among other items, such factors may
include: our ability to realize production efficiencies and to
achieve reductions in costs as a result of our restructuring
initiatives and labor modifications; our ability to maintain
quality control over our vehicles and avoid material vehicle
recalls and the cost and effect on our reputation of product
recalls; our ability to maintain adequate financing sources,
including as required to fund our planned significant investment in
new technology; our ability to successfully integrate Ally
Financial's International Operations; the ability of our suppliers
to timely deliver parts, components and systems; our ability to
realize successful vehicle applications of new technology; overall
strength and stability of our markets, particularly outside of
North America and China; costs and risks associated with
litigation and government investigations including those related to
our recent recalls; our ability to remain competitive in Korea and
our ability to continue to attract new customers, particularly for
our new products. GM's most recent annual report on Form 10-K and
quarterly reports on Form 10-Q provides information about these and
other factors, which we may revise or supplement in future reports
to the SEC.
SOURCE General Motors