Daily News: October 20, 2014

GM Financial Can Borrow Up To $4B with GM Credit Line

General Motors announced the execution of an unsecured $12.5 billion revolving credit facility consisting of a $5 billion three-year facility and a $7.5 billion five-year facility. The facility amends and extends GM’s existing $11 billion credit facility.

According to a related WSJ article, the reworked credit line allows GM to deepen its cash cushion by $1.5 billion and give GM Financial, its in-house finance company, the ability to borrow up to $4 billion in funds.

To read the GM new release, click here.

To read the entire Journal article, click here.