GM: launches notes of 2.1 billion dollars to refinance debt
(CercleFinance.com) - US auto giant GM has set pricing on a new 2.
1 billion dollars senior unsecured loan that the carmaker intends to use to refinance maturing debt.
The three series of notes include 450 million dollars of floating rate notes due in 2021, 750 million dollars of 5% notes due in 2028 and 900 million dollars of 5.95% notes due in 2049.
GM also intends to use the net proceeds to pre-fund certain mandatory contributions for its UK and Canada pension plans, due in 2019 through 2021, it said.
The offering is expected to be completed on 10 September.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
1 billion dollars senior unsecured loan that the carmaker intends to use to refinance maturing debt.
The three series of notes include 450 million dollars of floating rate notes due in 2021, 750 million dollars of 5% notes due in 2028 and 900 million dollars of 5.95% notes due in 2049.
GM also intends to use the net proceeds to pre-fund certain mandatory contributions for its UK and Canada pension plans, due in 2019 through 2021, it said.
The offering is expected to be completed on 10 September.
Copyright (c) 2018 CercleFinance.com. All rights reserved.