-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RsZjiMKq2aPN4kuUHQD41x8UMHK3lDFree1VMXwKFlhZVQzwaBRf6Fi9RaZIdgjv g9ra45a05LA7dZfqFIg9uw== 0000040730-06-000040.txt : 20060724 0000040730-06-000040.hdr.sgml : 20060724 20060724151235 ACCESSION NUMBER: 0000040730-06-000040 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20060720 ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant FILED AS OF DATE: 20060724 DATE AS OF CHANGE: 20060724 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL MOTORS CORP CENTRAL INDEX KEY: 0000040730 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 380572515 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00043 FILM NUMBER: 06976462 BUSINESS ADDRESS: STREET 1: 300 RENAISSANCE CTR STREET 2: MAIL CODE: 482-C34-D71 CITY: DETROIT STATE: MI ZIP: 48265-3000 BUSINESS PHONE: 3135565000 MAIL ADDRESS: STREET 1: 300 RENAISSANCE CTR STREET 2: MAIL CODE: 482-C34-D71 CITY: DETROIT STATE: MI ZIP: 48265-3000 8-K 1 gmcreditagree072406.txt ANNOUNCED AMENDED AND RESTATED CREDIT AGREEMENT 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) July 20, 2006 GENERAL MOTORS CORPORATION -------------------------- (Exact Name of Registrant as Specified in its Charter) STATE OF DELAWARE 1-143 38-0572515 ----------------- ----- ---------- (State or other jurisdiction of (Commission (I.R.S. Employer Incorporation or Organization) File Number) Identification No.) 300 Renaissance Center, Detroit, Michigan 48265-3000 ----------------------------------------- ---------- (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code (313) 556-5000 -------------- ================================================================================ 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)) ITEM 2.03. CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER OFF -BALANCE SHEET ARRANGEMENT OF A REGISTRANT On July 20, 2006, General Motors Corporation executed a $4.63 billion amended and restated credit agreement with a syndicate of banks (the "Agreement"). The Agreement provides for both an extended facility of $4.48 billion which will terminate on July 20, 2011 and for a non-extended facility of $152 million which expires on June 16, 2008. Only the extended facility, which consists of 97% of the combined facility, is secured. The collateral for the secured facility consists of certain North American accounts receivable and inventory of General Motors Corporation, Saturn Corporation, and General Motors of Canada, Limited, certain plants, property and equipment of General Motors of Canada, Limited and a pledge of 65 percent of the stock of the holding company for the General Motors indirect subsidiary GM de Mexico. In addition to securing the extended secured facility, the collateral will also secure certain lines of credit, Auto Clearing House and overdraft arrangements and letters of credit provided by the extending secured lenders totaling $1.5 billion. At GM's current secured credit rating, all-in cost of borrowings from extending lenders will be LIBOR (London InterBank Offered Rate) plus 225 basis points, while all-in costs of borrowings from non-extending lenders will be LIBOR plus 160 basis points. In addition, extending lenders received a consent fee of 40 basis points. In the event of certain work stoppages, the facility will be temporarily reduced to $3.5 billion. The Agreement removes any existing uncertainty as to whether the lenders would be required to honor a borrowing request by General Motors. The Agreement will be filed with the Form 10-Q for the quarter ended June 30, 2006. # # # SIGNATURES 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 CORPORATION -------------------------- (Registrant) Date: July 24, 2006 By: /s/PAUL W. SCHMIDT --- ------------------ (Paul W. Schmidt, Controller) -----END PRIVACY-ENHANCED MESSAGE-----