Key Developments: General Motors Co (GM)

GM on New York Consolidated

26 Dec 2014
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Latest Key Developments (Source: Significant Developments)

General Motors Co completes underwritten public offering of $2.5 bln aggregate principal amount of senior notes - Form 8-K
Wednesday, 12 Nov 2014 03:00pm EST 

General Motors Co:On Nov. 12, company completed underwritten public offering of $2.5 billion aggregate principal amount of senior notes.consisting of $500 mln aggregate principal amount of 4.00 pct Senior Notes due 2025.$750 mln aggregate principal amount of 5.00 pct Senior Notes due 2035.$1.25 bln aggregate principal amount of 5.20 pct Senior Notes due 2045.  Full Article

General Motors Co prices $2.5 billion of senior unsecured notes
Tuesday, 4 Nov 2014 05:07pm EST 

General Motors Co:Prices three series of senior unsecured notes for a total of $2.5 bln.These notes include $500 million of 4.00 percent notes due in 2025, $750 million of 5.00 percent notes due in 2035 and $1.25 billion of 5.20 percent notes due in 2045.Offering is expected to settle on Nov. 12, 2014. GM intends to use the net proceeds from the sale of the notes toward the expected redemption of the Series A Preferred Shares on or after Dec. 31, 2014 and, to the extent not used for the expected redemption, for general corporate uses.  Full Article

General Motors announces $12.5 billion revolving credit facility
Friday, 17 Oct 2014 04:30pm EDT 

General Motors Co:Announced execution of unsecured $12.5 billion revolving credit facility.Facility consisting of $5 billion three-year facility and $7.5 billion five-year facility.Facility amends and extends existing $11 billion credit facility.  Full Article

Isuzu Motors Ltd announces joint development of next-generation pickup truck with General Motors Company
Friday, 26 Sep 2014 04:00am EDT 

Isuzu Motors Ltd:Announces joint development of next-generation pickup truck with General Motors Company.  Full Article

General Motors Co and General Motors Financial Company Inc enter into support agreement
Thursday, 4 Sep 2014 08:25am EDT 

General Motors Co and General Motors Financial Company Inc:Enters into a support agreement, reaffirming the critical role GM Financial plays in GM's success.Agreement provides for leverage limits and liquidity support to GM Financial if needed, as well as other general terms of support.GM Financial expands its product portfolio and grows its business, GM committed to provide funding to GM Financial if its earning assets leverage ratio rises above pre-determined thresholds.  Full Article

General Motors Co declares dividend on common stock
Monday, 11 Aug 2014 08:00pm EDT 

General Motors Co:Declares a third-quarter 2014 dividend of 30 cents per share on its common stock.Payable Sept. 26 to all common stockholders of record as of Sept. 10.  Full Article

Clark Fountain Law Firm files class action against General Motors Co in response to false safety ratings
Friday, 27 Jun 2014 05:09pm EDT 

Clark, Fountain, La Vista, Prather, Keen & Littky-Rubin:Says it has filed a Class Action Complaint against General Motors Company (GM) on behalf of its client, Geri Siano Carriuolo, and all persons in Florida who purchased vehicles from GM that contained false and developed safety information.Suit alleges that GM displayed a Monroney sticker on car windows highlighting its 2014 Cadillac CTS Sedan had achieved the highest safety ratings in certain categories by the National Highway Traffic Safety Administration.GM later disclosed to car owners that the vehicles had not received the 5-star ratings.Says In addition to Clark Fountain, the class action is being represented by South Florida law firms, Shapiro Haber & Urmy LLP and Liggio Benrubi PA.According to the complaint, through its false representations, GM has violated the Florida Deceptive and Unfair Trade Practice Act.Plaintiff and class members suffered damages due to the significant decrease in automobile value.  Full Article

General Motors Co Car owners say GM's alleged bungling of safety issues damaged brand, value of all gm cars and sue for damages
Wednesday, 18 Jun 2014 08:19am EDT 

General Motors Co:National consumer-rights law firm Hagens Berman Sobol Shapiro today filed potentially precedent-setting class-action lawsuit against General Motors.Says claiming that the automaker's troubled history - including more than 20 mln recalled vehicles worldwide - has so impacted the GM brand that all GM car owners.Says not just those subject to the ignition switch recall, have suffered economic damage through loss of resale value, and deserve compensation.Class action is first suit of the lawsuits filed against GM to seek compensation based on the automaker's damaged brand perception.If certified, the class would represent as many as 15 million GM car owners and put (GM) General Motors's exposure at more than $10 billion, according to attorneys.  Full Article

General Motors Co recalls another 3.4 mln cars for ignition problem-Business Standard
Monday, 16 Jun 2014 06:36pm EDT 

General Motors Co:Has recalled 3.4 million cars in North America to fix an ignition problem that could cause the car to lose power that is linked to injuries-Business Standard.  Full Article

General Motors Co recalls 106,000 vehicles-Business Standard
Sunday, 8 Jun 2014 06:51pm EDT 

General Motors Co:Says four more vehicle recalls, totalling about 106,000 in North America, including one to fix an air-bag system likely tied to one crash involving an injury-Business Standard.  Full Article

GM gets 104 more claims for faulty ignition switch compensation

- General Motors Co has received 104 claims for compensation for ignition switch defects in its cars in the past week, bringing the total to 2,430, according to the official administering the compensation program.

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