8-KMaterial AgreementsExhibits & Filings

General Motors Co 8-K Report, Material Agreement (Feb 23, 2016)

Filed February 23, 2016For Securities:GM

Summary

General Motors Company (GM) filed an 8-K on February 23, 2016, to report the completion of a significant debt offering. The company successfully issued $2.0 billion in aggregate principal amount of senior notes. This issuance comprised $1.25 billion of 6.600% Senior Notes due 2036 and $750 million of 6.750% Senior Notes due 2046. The offering was conducted under an underwriting agreement with several major financial institutions, including Goldman, Sachs & Co., Citigroup Global Markets Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated. These notes were issued pursuant to a base indenture and a third supplemental indenture, with The Bank of New York Mellon acting as trustee. The proceeds from this issuance are intended to strengthen GM's financial position.

Key Highlights

  • 1GM completed a $2.0 billion senior notes offering.
  • 2The offering included $1.25 billion in 6.600% Senior Notes due 2036.
  • 3The offering also included $750 million in 6.750% Senior Notes due 2046.
  • 4The notes were issued under an underwriting agreement with major financial institutions.
  • 5The issuance was governed by GM's existing base indenture and a new third supplemental indenture.
  • 6The Bank of New York Mellon serves as the trustee for these notes.

Frequently Asked Questions

General Motors issued a total of $2.0 billion in aggregate principal amount of senior notes.

The issuance consisted of $1.25 billion of 6.600% Senior Notes due 2036 and $750 million of 6.750% Senior Notes due 2046.

While the 8-K filing does not explicitly state the exact use of proceeds, such debt offerings are typically undertaken to strengthen a company's balance sheet, fund operations, or for general corporate purposes.

The underwriters included Goldman, Sachs & Co., Citigroup Global Markets Inc., and Merrill Lynch, Pierce, Fenner & Smith Incorporated, acting as representatives for several other underwriters.