Financing ·
General Motors entered into a Master IPU Agreement with Procura Auto Parts LLC to secure critical inventory against…
GMGeneral Motors Co
General Motors entered into a Master IPU Agreement with Procura Auto Parts LLC to secure critical inventory against supply chain disruptions. The program allows the company to issue irrevocable payment undertakings backed by a syndicate of banks, including JPMorgan Chase and Banco Santander, up to a $4.5 billion facility limit. Funds are advanced to suppliers who hold inventory for GM until needed, with payments due no later than August 6, 2029. Interest accrues at SOFR plus 1.55%, plus a 0.25% fee on unutilized amounts during the twelve-month availability period starting August 7, 2026. This arrangement is accounted for as a product financing transaction. General Motors designs, builds, and sells trucks, passenger vehicles, and parts globally.