General Motors executed an unsecured $14.5 billion revolving credit facility consisting of a $10.5 billion five-year facility and a $4.0 billion three-year facility.
A total of 44 financial institutions from 13 countries participated in the broadly syndicated transaction, underscoring the global scope of GM’s operations.
The facility amends and extends GM’s existing $12.5 billion revolving credit facility.
“We believe this larger revolver, along with our $20 billion target cash, will provide appropriate liquidity to enable consistent investment in a downturn to generate strong results,” said Chuck Stevens, GM executive vice president and chief financial officer. “We will also have the financial flexibility within the revolver for potential opportunities that may emerge to advance our strategic plan.”