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GM announces USD 16.5 billion revolving credit facility

Auto News - Published on Mon, 23 Apr 2018

Image Source: forbesimg.com
General Motors Co. announced the execution of an unsecured USD 16.5 billion revolving credit facility that amends and extends GM’s existing USD 14.5 billion revolving credit facility and establishes a new USD 2.0 billion 364-day facility.

The renewed facility consists of a USD 10.5 billion five-year facility, a USD 4.0 billion three-year facility, and a USD 2.0 billion 364-day facility. GM has allocated the USD 2.0 billion 364-day facility for exclusive use by GM Financial. Total available credit to the Automotive segment under the facility remains unchanged at USD 14.5 billion.

A total of 47 financial institutions from 15 countries participated in the broadly syndicated transaction, underscoring the global scope of GM’s operations.

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Posted By : Amom Remju on Mon, 23 Apr 2018
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