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Form 8-K · Current Report · Filed 2024-03-28

General Motors Terminates Existing Credit Agreement and Enters New Revolving Credit Facility

On March 28, 2024, General Motors Company terminated its $3.0 billion 364-Day Delayed Draw Term Loan Credit Agreement with Bank of America, N.A., and entered into a Sixth Amended and Restated 364-Day Revolving Credit Agreement with JPMorgan Chase Bank, N.A., for $2.0 billion, effective until March 27, 2025.

Filer
General Motors Co. GM · NYSE
Filed
Accession
0001193125-24-080620
CIK
0001467858
Signal
Medium impactConsumer Cyclical

Items reported

Item 1.01

Entry into a Material Definitive Agreement

New Major Contract
Item 1.02

Termination of a Material Definitive Agreement

Contract Termination
Item 2.03

Creation of a Direct Financial Obligation

New Debt Issued
Item 9.01

Financial Statements and Exhibits

No viable tag

Market reaction

Close before filing

$44.59

Next session

+1.8%

Since filing

+99.3%

Latest close

$88.86

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from GM reporting the same item, with the next session's move:

Exhibits (1)

About General Motors Co.

General Motors Co. is a prominent American multinational corporation specializing in the design, manufacturing, and distribution of vehicles and vehicle parts. Primarily known for its influential brands such as Chevrolet, Buick, GMC, and Cadillac, General Motors plays a vital role in the automotive industry worldwide. The company is headquartered in Detroit, Michigan, and operates numerous production facilities across North America and various parts of the globe. A key characteristic of General Motors is its focus on advancing automotive innovation, including the development of electric and autonomous vehicles. The company is at the forefront of the transition towards sustainable transportation solutions, contributing to broader industry efforts to reduce carbon emissions. Besides its commitment to innovation, General Motors Co. plays a significant role in the global automotive supply chain, influencing multiple related sectors such as technology, steel, and consumer finance. General Motors continues to be a crucial player in the automotive sector, impacting economies and mobility solutions worldwide with its comprehensive range of vehicles and forward-thinking approaches.

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