General Motors Company Completes Green Bond Offering

On August 2, our client, General Motors Company (NYSE: GM), completed the offering of $2.25 billion aggregate principal amount of “green bonds,” consisting of $1.0 billion aggregate principal amount of 5.400% senior notes due 2029, and $1.25 billion aggregate principal amount of 5.600% senior notes due 2032. GM expects to allocate the net proceeds from this offering to clean transportation solutions: investments (including equity investments in joint ventures) and expenditures for the design, development or manufacture of clean transportation technology and enabling solutions.

This was GM’s inaugural offering of “green bonds.”  The green bonds were issued pursuant to the company’s recently introduced Sustainable Finance Framework.

The K&S team advising GM on the offering and the establishment of the Sustainable Finance Framework included Keith Townsend, Elizabeth Morgan, Adrian Karas, John Morris, and Savannah Padgett. John Sweet advised on tax matters.