Davis Polk advised Citigroup Global Markets Inc., as representative of the several initial purchasers, in a Rule 144A/Regulation S offering by General Motors Company of $4.5 billion in aggregate principal amount of senior notes, consisting of $1.5 billion in aggregate principal amount of 3.5% senior notes due 2018, $1.5 billion in aggregate principal amount of 4.875% senior notes due 2023 and $1.5 billion in aggregate principal amount of 6.25% senior notes due 2043. General Motors will use approximately $3.2 billion of the net proceeds from this offering to repurchase 120 million shares of its outstanding Series A Preferred stock held by the UAW Retiree Medical Benefits Trust. 

General Motors and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. General Motors, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. General Motors’ common stock is listed on the New York Stock Exchange under the symbol “GM” and is also listed on the Toronto Stock Exchange under the symbol “GMM.” 

The Davis Polk corporate team included partner Richard A. Drucker, associate Byron B. Rooney and law clerk Kate Darracott. The tax team included partner Samuel Dimon and law clerks Thomas D. Phelan and Kelli Luebben. All members of the Davis Polk team are based in the New York office.