OREANDA-NEWS. General Motors Co. today announced the execution of an unsecured USD 12.5 billion revolving credit facility consisting of a USD 5 billion three-year facility and a USD 7.5 billion five-year facility. The facility amends and extends GM's existing USD 11 billion credit facility.

"This credit facility further strengthens our fortress balance sheet with an appropriate level of liquidity to support the needs of the business," said Chuck Stevens, GM executive vice president and chief financial officer. "The broad support from our global banking partners is important as we continue to target a capital structure that is consistent with strong investment grade ratings."

The facility offers improved pricing and terms and the ability to borrow in currencies other than U.S. dollars. GM Financial, GM's captive finance company, will also be able to borrow under the facility.

A total of 40 financial institutions from 14 countries participated in the broadly syndicated transaction, underscoring the global scope of GM's operations.

General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands.