8-KThe WireStrategic
Material Agreement · New Debt / Obligation
Filed Apr 27, 2020 · 6y ago · Accession 0001467858-20-000062
Plain English
Material event — a significant development the company must disclose promptly.
Read the source below for the full document.
Filing text
View original ↗UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
___________________
FORM 8-K
___________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 24, 2020
___________________
GENERAL MOTORS COMPANY
(Exact name of registrant as specified in its charter)
__________________
Delaware
001-34960
27-0756180
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
300 Renaissance Center,
Detroit,
Michigan
48265
-3000
(Address of principal executive offices)
(Zip Code)
( 313 ) 667-1500
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
__________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $0.01 par value
GM
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry Into a Material Definitive Agreement
See Item 2.03 below.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
On April 24, 2020, General Motors Company (“GM”) entered into Amendment No. 1 (the “Amendment”) to its Third Amended and Restated 3-Year Revolving Credit Agreement, dated April 18, 2018, with JPMorgan Chase Bank, N.A., as administrative agent, Citibank, N.A., as syndication agent, and the lenders named therein, which consists of a three-year, $4.0 billion revolving credit facility (as amended, the “Three-Year Facility”). GM previously entered into its Third Amended and Restated 5-Year Revolving Credit Agreement and its 364-Day Revolving Credit Agreement, each with JPMorgan Chase Bank, N.A., as administrative agent, Citibank, N.A., as syndication agent, and the lenders named therein (collectively with the Three-Year Facility, the “Facilities”).
Pursuant to the Amendment, among other things, the termination date for a $3.6 billion portion of the Three-Year Facility was extended by one year, now set to mature on April 18, 2022, (the termination date of April 18, 2021 for the remaining portion of the Three-Year Facility remains unchanged), and GM is restricted from (i) engaging in share repurchases so long as any borrowings are outstanding under the Facilities and (ii) paying dividends on its common stock so long as borrowings under the Facilities exceed $5.0 billion, in each case, subject to exceptions and limitations . The other material terms and conditions set forth in the Three-Year Facility remain unchanged. For a description of the Three-Year Facility, see GM’s Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on April 20, 2018.
The foregoing description does not constitute a complete summary of the Amendment and is qualified in its entirety by reference to the full text of the Amendment filed herewith.
Item 9.01 Financial Statements and Exhibits
Exhibit
Description
10.1†
Amendment No. 1, dated April 24, 2020, to Third Amended and Restated 3-Year Revolving Credit Agreement, dated April 18, 2018, among General Motors Company, General Motors Financial Company, Inc., General Motors do Brasil Ltda., the subsidiary borrowers from time to time parties thereto, the several lenders from time to time parties thereto, JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent.
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
†
Portions of this exhibit have been omitted pursuant to Rule 601(b)(10) of Regulation S-K. The omitted information is not material and would likely cause competitive harm to the registrant if publicly disclosed.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
GENERAL MOTORS COMPANY (Registrant)
By:
/s/ Rick E. Hansen
Date: April 27, 2020
Rick E. Hansen
Assistant General Counsel and Corporate Secretary
Filing details
- Company
- General Motors Co
- Ticker
- GM
- CIK
- 1467858
- Form type
- 8-K
- Filing date
- Apr 27, 2020
- Report date
- Apr 24, 2020
- Document
- a8k.htm
- Size
- 1.5 MB