General Motors has announced an unsecured US$12.5bn revolving credit facility consisting of a $5bn three-year facility and a $7.5bn five-year facility amending and extending GM’s existing $11bn credit facility.
“This credit facility further strengthens our fortress balance sheet with an appropriate level of liquidity to support the needs of the business,” said Chuck Stevens, GM’s CFO. “The broad support from our global banking partners is important as we continue to target a capital structure that is consistent with strong investment grade ratings.”
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The facility offers improved pricing and terms and the ability to borrow in currencies other than US dollars. GM Financial, GM’s captive finance company, will also be able to borrow under the facility.
A total of 40 financial institutions from 14 countries participated in the broadly syndicated transaction, underscoring the global scope of GM’s operations.
