GM Prices $2.0 Billion of Senior Unsecured Notes

Feb 18, 2016, 16:50 ET from General Motors

DETROIT, Feb. 18, 2016 /PRNewswire/ -- General Motors Co. (NYSE: GM) announced today the pricing of two series of senior unsecured notes for a total of $2.0 billion. These notes include $1.25 billion of 6.60 percent notes due in 2036 and $0.75 billion of 6.75 percent notes due in 2046. The offering is expected to settle on Feb. 23, 2016.

GM intends to use the net proceeds from the sale of the notes to make a discretionary contribution to its U.S. hourly pension plan and, in the event GM does not use all of the net proceeds for this contribution, for general corporate uses.

GM has filed a registration statement, including a prospectus and preliminary prospectus supplement, with the SEC for the offering to which this communication relates. Prospective investors should read the prospectus in that registration statement, the preliminary prospectus supplement and other documents GM has filed with the SEC for more complete information about GM and this offering. The documents are available for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, copies of the preliminary prospectus supplement and the accompanying prospectus may be obtained by contacting the joint book-running managers:

Goldman, Sachs & Co.
Attention: Prospectus Department
200 West St., New York, NY 10282
Telephone: 1-866-471-2526
Facsimile: 1-212-902-9316
E-mail: prospectus-ny@ny.email.gs.com

Citigroup Global Markets Inc., c/o Broadridge Financial Solutions
1155 Long Island Ave., Edgewood, NY 11717
Telephone: 1-800-831-9146

Merrill Lynch, Pierce, Fenner & Smith Incorporated
Attention:  Prospectus Department
222 Broadway, 11th Floor, New York, NY 10038
Telephone: 1-800-294-1322
E-mail: dg.prospectus_requests@baml.com

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offer or sale of these securities will be made only by means of a prospectus, including a prospectus supplement, forming a part of the related registration statement.

General Motors Co. (NYSE: GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands.

Forward-Looking Statements

In this press release and in related comments by management, our use of the words "plan", "anticipate," "goal," "expect," "possible," "target," "believe," "commit", "intend," "continue," "may," "would," "could," "should," "project," "appears," "potential," "on track," "designed," "effect," "estimate," "evaluate," "forecast," "initiative," "objective," "outlook," "priorities," "pursue," "seek," "will," "when," or the negative of any of those words or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors may include: our ability to realize production efficiencies and to achieve reductions in costs; our ability to restructure our operations in various countries; our ability to maintain quality control over our vehicles and avoid material vehicle recalls and the cost and effect on our reputation of product recalls; our ability to maintain adequate financing sources, including as required to fund new and improved products and services and investments in new technology; our ability to realize successful vehicle applications of new technology; our ability to deliver new products, services and customer experiences; volatility in the price of oil; the ability of our suppliers to timely deliver parts, components and systems; the availability of wholesale and retail financing in markets in which we operate to support the sale of our vehicles; the success of our full-size pick-up trucks and SUVs; the results of our joint ventures, which we cannot operate solely for our benefit and over which we may limited control; changes in economic conditions, commodity prices, housing prices, foreign currency exchange rates or political stability in the markets in which we operate; changes in laws, regulations and policies or other activities of governmental authorities or stricter or novel interpretations and consequent enforcement of existing requirements; significant changes in the economic, political and regulatory environment and market conditions in China; costs and risks associated with litigation and government investigations including those related to our various recalls and risks, consequences and costs associated with failure to comply with the deferred prosecution agreement; increases in our pension expense or projected pension contributions; and our ability to manage risks related to security breaches and other disruptions to our vehicles, information technology networks and systems.

GM's most recent reports on Form 10-K and Form 10-Q provide information about these and other factors, which we may revise or supplement in future reports to the Securities and Exchange Commission. GM does not undertake to update any forward-looking statements that it may make except as required by applicable law. All subsequent written and forward-looking statements attributed to GM or any person acting on its behalf are expressly qualified in their entirety by the factors referenced above.

SOURCE General Motors