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GM Arranges $14.5 Billion in Revolving Credit
General Motors Co. says it has completed an unsecured $14.5 billion revolving credit facility with 44 financial institutions in 13 countries.
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General Motors Co. says it has completed an unsecured $14.5 billion revolving credit facility with 44 financial institutions in 13 countries.
The new revolver replaces GM’s existing $12.5 billion credit arrangement. The facility is part of a financial plan its unveiled a year ago to maintain an investment-grade portfolio, retain a $20 billion cash balance and establish available liquidity of at least $30 billion.
GM says the plan will enable it to withstand a "severe economic downturn” if necessary.
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