General Motors Company $2.1 Billion Senior Notes Offering

Davis Polk advised the representatives of the several underwriters on an SEC-registered offering by General Motors Company of $2.1 billion in aggregate principal amount of senior notes, consisting of $450 million in aggregate principal amount of floating-rate senior notes due 2021, $750 million in aggregate principal amount of 5.000% senior notes due 2028 and $900 million in aggregate principal amount of 5.950% senior notes due 2049. General Motors will use the net proceeds from this offering for general corporate purposes, including the repayment of $1.5 billion aggregate principal amount outstanding of its 3.500% senior notes due October 2, 2018, to pre-fund certain mandatory contributions for its U.K. and Canada pension plans due in 2019 through 2021, and for other general corporate purposes.

General Motors Company and its subsidiaries and joint venture entities produce and sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands.

The Davis Polk corporate team included partner Joseph A. Hall and associates Dan Gibbons, Jaryn S. Fields, Carrie Guo and David D. Kim. Partner Po Sit and associate Gil Savir provided tax advice. All members of the Davis Polk team are based in the New York office.