has completed a public offering of $400.0 million aggregate principal amount ofits floating-rate senior notes due 2019, $1.40 billion aggregate principal amountof its 2.400% senior notes due 2019 and $1.20 billion aggregate principal amountof its 3.700% senior notes due 2023.
Accordingto a Form 8-K filed May 9, the company estimates that the net proceeds of the offeringwill be approximately $2.98 billion, after deducting the underwriters' discountsand commissions and the estimated expenses of the offering. The net proceeds willbe added to the company's general funds and will be available for general corporatepurposes.
The floating-ratenotes will bear interest at a rate, reset quarterly, equal to three-month LIBORplus 1.450%. Interest will accrue from May 9 and will be paid quarterly on Feb.9, May 9, Aug. 9 and Nov. 9 of each year, beginning Aug. 9. The 2019 notes willbear interest at a rate of 2.400% per year on the principal amount, payable semiannuallyin arrears on May 9 and Nov. 9 of each year, beginning Nov. 9. The floating-ratenotes and 2019 notes mature May 9, 2019.
The 2023notes will bear interest at a rate of 3.700% per year on the principal amount, payablesemiannually in arrears on May 9 and Nov. 9 of each year, beginning Nov. 9. The2023 notes will mature May 9, 2023.
The offeringwas pursuant to an underwriting agreement among the company, AmeriCredit FinancialServices Inc., Banco Bradesco BBI SA, Deutsche Bank Securities Inc., Goldman Sachs& Co., Merrill Lynch Pierce Fenner & Smith Inc., RBC Capital Markets LLCand SMBC Nikko Securities America Inc. as representatives of several underwriters.The notes are guaranteed by the company's principal U.S. operating subsidiary, AmeriCredit.