GM Financial Prices Private Offering of $2.5 Billion of Senior Notes
FORT WORTH, Texas -- May 7, 2013
GENERAL MOTORS FINANCIAL COMPANY, INC. (“GM Financial” or the “Company”)
announced today that it has priced its private offering of $1.0 billion of
2.75% Senior Notes due 2016, $750 million of 3.25% Senior Notes due 2018 and
$750 million of 4.25% Senior Notes due 2023 (collectively, the “Notes”). The
Notes will be offered only to qualified institutional buyers in accordance
with Rule 144A and to non-U.S. persons under Regulation S under the Securities
Act of 1933, as amended (the “Securities Act”). The Notes offering is expected
to close on or about May 14, 2013, subject to customary closing conditions.
GM Financial plans to use the net proceeds from the offering of the Notes to
fund a portion of the acquisition of the international auto finance and
financial services businesses of Ally Financial Inc. (“Ally”), to repay
certain indebtedness to General Motors Company (“GM”) pursuant to its
inter-company loan from GM and for general working capital purposes.
The Notes have not been registered under the Securities Act or any state
securities laws, and may not be offered or sold in the United States absent
such registration or an applicable exemption from the registration
requirements of the Securities Act and applicable state securities laws.
This press release does not and will not constitute an offer to sell or the
solicitation of any offer to buy the Notes or any other securities, nor shall
there be any sale of the Notes in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such jurisdiction. This press release is
being issued pursuant to Rule 135c under the Securities Act.
About GM Financial
General Motors Financial Company, Inc. is a wholly-owned subsidiary of General
Motors Company and is headquartered in Fort Worth, Texas.
This press release contains forward-looking statements that involve risks and
uncertainties. Such risks include – but are not limited to – the Company’s
ability to close the acquisition of the remaining portions of Ally’s
international operations that the Company has not already acquired and
integrate the operations that the Company has acquired and will acquire into
its business successfully, changes in general economic and business
conditions, GM’s ability to sell new vehicles that the Company finances, the
Company’s dependence on the financial condition of GM dealers, interest rate
and exchange rate fluctuations, the Company’s financial condition and
liquidity, as well as future cash flows and earnings, competition, the effect,
interpretation or application of new or existing laws, regulations, court
decisions and accounting pronouncements, the availability of sources of
financing, the level of net credit losses, delinquencies and prepayments on
the loans and leases the Company originates, the prices at which used cars are
sold in the wholesale auction markets, changes in business strategy, including
acquisitions and expansion of product lines and credit risk appetite, the
ability to integrate the business and operations of acquisitions, and
significant litigation. These forward-looking statements are based on the
beliefs of the Company’s management as well as assumptions made by and
information currently available to the Company’s management. Actual events or
results may differ materially. It is advisable not to place undue reliance on
any forward-looking statements. The Company undertakes no obligation to, and
does not, publicly update or revise any forward-looking statements, except as
required by federal securities laws, whether as a result of new information,
future events or otherwise.
General Motors Financial Company, Inc.
Investor Relations, 817-302-7000
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