Photo: GM vehicle A vehicle exits from the General Motors Co. (GM) Silao Complex in Silao, Guanajuato state, Mexico, on Wednesday, Feb. 2, 2022. Photographer: Mauricio Palos/Bloomberg

Late last week, General Motors Co. sold environmentally friendly bonds for the first time ever, joining its competitors in tapping the sustainable debt market to fund the transition to electric vehicles to compete with Tesla Inc.

The automaker priced $2.25 billion of green bonds in two parts, according to a person with knowledge of the matter. The longest portion of the offering, a 10-year security, yields 2.95 percentage points above comparable Treasuries, after initial discussions of as much as 3.2 percentage points, said the person, who asked not to be identified as the details are private.

 

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2022 ALM Global, LLC. All Rights Reserved.