General Motors Company $2.5 Billion Senior Notes Offering

Davis Polk advised J.P. Morgan Securities LLC, Goldman, Sachs & Co. and Morgan Stanley & Co. LLC, as representatives of the several underwriters, on an SEC-registered offering by General Motors Company of $2.5 billion in aggregate principal amount of senior notes, consisting of $500 million in aggregate principal amount of 4% senior notes due 2025, $750 million in aggregate principal amount of 5% senior notes due 2035 and $1.25 billion in aggregate principal amount of 5.2% senior notes due 2045. General Motors intends to use the net proceeds from this offering to pay a portion of the redemption price to redeem outstanding shares of its Series A fixed-rate cumulative perpetual preferred stock. Any remaining proceeds will be used for general corporate purposes.

General Motors and its partners produce vehicles in 30 countries, and the company has leadership positions in the world’s largest and fastest-growing automotive markets. General Motors, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. General Motors’ common stock is listed on the New York Stock Exchange under the symbol “GM” and is also listed on the Toronto Stock Exchange under the symbol “GMM.”

The Davis Polk corporate team included partner Richard A. Drucker and associate Kate Darracott. The environmental team included counsel Betty Moy Huber. The intellectual property team included partner Frank J. Azzopardi and associate David He. Partner Michael Mollerus provided tax advice. All members of the Davis Polk team are based in the New York office.

Source:  www.davispolk.com