03 03 2016

General Motors Company $2 Billion Senior Notes Offering

Davis Polk advised the representatives of the several underwriters, on an SEC-registered offering by General Motors Company of $2.0 billion in aggregate principal amount of senior notes, consisting of $1.25 billion in aggregate principal amount of 6.600% senior notes due 2036 and $750 million in aggregate principal amount of 6.750% senior notes due 2046. General Motors will use the net proceeds from this offering to make a discretionary contribution to its U.S. hourly pension plan and intends to use any remaining net proceeds for general corporate purposes.


Goldman, Sachs & Co., BofA Merrill Lynch, Citigroup, Deutsche Bank Securities, Morgan Stanley acted as Joint Book-Running Managers Barclays, BNP PARIBAS, COMMERZBANK, Credit Agricole CIB, Credit Suisse, J.P. Morgan, Lloyds Securities, Mizuho Securities, SOCIETE GENERALE acted as Joint Lead Managers. General Motors will use the net proceeds from this offering to make a discretionary contribution to its U.S. hourly pension plan and intends to use any remaining net proceeds 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, 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 (Picture) and associates Kate Darracott and Martin Hui. The environmental team included counsel Betty Moy Huber and associate Yuko Masunaga. The intellectual property and technology team included partner Frank J. Azzopardi. The tax team included partner Michael Mollerus and associate Aaron M. Lee. Involved fees earner: Richard Drucker - Davis Polk & Wardwell; Kate Darracott - Davis Polk & Wardwell; Martin Hui - Davis Polk & Wardwell; Betty Moy Huber - Davis Polk & Wardwell; Yuko Masunaga - Davis Polk & Wardwell; Frank Azzopardi - Davis Polk & Wardwell; Michael Mollerus - Davis Polk & Wardwell; Muhyung Lee - Davis Polk & Wardwell;

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