Consumer Finance
Company Overview of General Motors Financial Company, Inc.
Company Overview
801 Cherry Street
Suite 3500
Fort Worth, TX 76102
United States
Founded in 1986
3,777 Employees
Key Executives for General Motors Financial Company, Inc.
General Motors Financial Company, Inc. Key Developments
General Motors Financial Company, Inc. announced that it has priced its private offering of $1.0 billion of 2.75% Senior Notes due 2016, $750 million of 3.25% Senior Notes due 2018 and $750 million of 4.25% Senior Notes due 2023. The Notes will be offered only to qualified institutional buyers in accordance with Rule 144A and to non-U.S. persons under Regulation S under the Securities Act of 1933, as amended. The Notes offering is expected to close on or about May 14, 2013, subject to customary closing conditions. The company plans to use the net proceeds from the offering of the Notes to fund a portion of the acquisition of the international auto finance and financial services businesses of Ally Financial Inc. to repay certain indebtedness to General Motors Company pursuant to its inter-company loan from GM and for general working capital purposes.
General Motors Financial Company, Inc. announced that it intends to offer $2,000,000,000 in aggregate principal amount of its senior notes in various tranches to certain institutional investors in an unregistered offering. The company intends to use the net proceeds from the Offering to fund a portion of the acquisition of the International Operations, to repay certain indebtedness to General Motors Company pursuant to its inter-company loan from GM and for general working capital purposes.
General Motors Financial Company, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net income of $106 million compared to $112.3 million for the quarter ended March 31, 2012. Revenue was $540.12 million compared to $431.40 million reported a year ago. Income before income taxes was $169.67 million compared to $181.24 million reported a year ago. Net cash provided by operating activities was $315.21 million compared to $296.2 million reported a year ago. Purchases of property and equipment was $1.43 million compared to $3.95 million reported a year ago. The company delivered solid profitability with $200 million in earnings before taxes, and corporate sector was $100 million expense, for a total of $1.8 billion EBIT-adjusted for the quarter. For the quarter, the company reported charge-offs of $131.54 million compared to $51.1 million reported a year ago.
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|
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November 21, 2012 |
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