General Motors Financial Company, Inc.: debt financing — GM Financial enters into $16.1B in new revolving credit facilities

General Motors Financial Company, Inc.

Three unsecured facilities: $10B 5-year (matures 2028), $4.1B 3-year (2026), $2.0B 364-day (2024).
GM guarantees subsidiary borrowings; subsidiaries no longer required to guarantee if GM loses investment grade.
GM must maintain at least $4.0B global liquidity and $2.0B U.S. liquidity.
Interest rates based on Term SOFR, Daily Simple SOFR, or base rate plus margin tied to GM's credit rating.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

General Motors Financial Company, Inc. amended revolving credit of $10 billion, $4.1 billion, and $2.0 billion with JPMorgan Chase Bank, N.A., Citibank, N.A., and other lenders at Interest rates based on Term SOFR, Daily Simple SOFR, or alternative base rate, maturing 5-year facility matures March 31, 2028; 3-year facility matures March 31, 2026; 364-day facility matures March 30, 2024.

Instrument: revolving credit
Principal: $10 billion, $4.1 billion, and $2.0 billion
Counterparty: JPMorgan Chase Bank, N.A., Citibank, N.A., and other lenders
Rate: Interest rates based on Term SOFR, Daily Simple SOFR, or alternative base rate,
Maturity: 5-year facility matures March 31, 2028; 3-year facility matures March 31, 2026; 364-day facility matures March 30, 2024
Event: amendment

Exact text from the filing

agent, Citibank, N.A., as syndication agent, and the other lenders named therein (collectively, the “Facilities”). The Facilities are unsecured and consist of a five-year $10 billion facility (the “5-year Facility”), a three-year, $4.1 billion facility (the “3-Year Facility”) and a 364-day, $2.0 billion facility (the “364-Day Facility”). The 5-Year Facility

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Source: SEC EDGAR

accession 0001193125-23-086978

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