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General Motors' first loans came in mid-December of 2008, when Treasury Secretary Hank Paulson stepped in to rescue GM and Chrysler.
On June 1, 2009, GM filed for Chapter 11 bankruptcy protection. As part of the restructuring, the U.S. government agreed to provide the company up to $30.1 billion more. In exchange, the U.S. received a 60.8 percent stake in the company when it emerged from bankruptcy protection about a month later. The remainder of GMâ€™s equity stake was divided between the Canada and Ontario governments (11.7 percent), the UAW retiree trust (17.5 percent), and bondholders and other creditors (10 percent). On Nov. 16, 2010, General Motors began to sell its shares on the stock exchange.
Apr. 11, 2013 Partial Repayment
On January 18, 2013, Treasury gave Citigroup Global Markets, Inc. and J.P. Morgan Securities, LLC discretionary authority, as its sales agent, to sell subject to certain parameters up to 58,392,078 shares of common stock from time to time during the period ending on April 17, 2013 (or upon completion of the sale). Completion of the sale under this authority occurred on April 11, 2013. The sale further reduced Treasury's equity stake in GM to 17.69 percent.
Dec. 21, 2012 Partial Repayment
On 12/21/2012, Treasury sold 200,000,000 shares of common stock at $27.50 per share pursuant to a letter agreement. Following settlement, the net proceeds to Treasury were $5,500,000,000. The sale further reduced Treasury's equity stake in GM to 21.97 percent.
Oct. 23, 2012 Partial Repayment
Jan. 11, 2012 Partial Repayment
Dec. 23, 2011 Partial Repayment
Dec. 16, 2011 Partial Repayment
May 3, 2011 Partial Repayment
Apr. 5, 2011 Partial Repayment
Mar. 31, 2011 Partial Repayment
Dec. 15, 2010 Dividend - Cumulative
Dec. 15, 2010 Partial Repayment
Treasury accepted an offer by General Motors to repurchase all of the approximately $2.1 billion preferred stock at a price per share of $25.50, which is equal to 102% of the liquidation preference, subject to the closing of the proposed initial public offering of GMâ€™s common stock. The repurchase was completed on 12/15/2010.
Nov. 26, 2010 Partial Repayment
On 11/26/2010, the underwriters exercised their option to purchase an additional 53,782,019 shares of common stock from Treasury at the same purchase price resulting in additional proceeds of $1,761,495,577. The sale further reduced Treasury's equity stake in GM to 32.04 percent.
Nov. 18, 2010 Partial Repayment
On 11/17/2010, Treasury agreed to sell 358,546,795 shares of common stock at $32.7525 per share (which represents the $33 public sale price less underwriting discounts and fees) pursuant to an underwriting agreement. Following settlement, the net proceeds to Treasury were $11,743,303,903. The sale reduced the Treasury's equity stake in GM to 36.9 percent.
Sep. 15, 2010 Dividend - Cumulative
Jun. 15, 2010 Dividends payment
Apr. 20, 2010 Partial Repayment
Apr. 20, 2010 Dividends payment
Apr. 12, 2010 Interest Payment
Mar. 31, 2010 Partial Repayment
Jan. 21, 2010 Partial Repayment
Jan. 21, 2010 Interest Payment
Jan. 11, 2010 Interest Payment
Dec. 18, 2009 Interest Payment
Dec. 18, 2009 Partial Repayment
Dec. 15, 2009 Dividend Payment
Oct. 22, 2009 TARP Chief for Exec Compensation Releases Findings
The Special Master for TARP Executive Compensation releases determinations on the compensation packages for the top 25 most highly paid executives at the companies that received "exceptional" assistance -- i.e. those that were bailed out in the strictest sense of the word: AIG, Bank of America, Citigroup, Chrysler, Chrysler Financial, General Motors, and GMAC.
Oct. 13, 2009 Interest Payment
Sep. 15, 2009 Dividend Paid
Jul. 15, 2009 Total Interest Paid Thru 7-09
Jul. 10, 2009 Partial Repayment
Jul. 10, 2009 Debt Obligation w/ Additional Note, Equity Interest
Jul. 10, 2009 New GM Begins Operations
Jun. 3, 2009 Debt Obligation, Equity Interest
Jun. 1, 2009 GM Files for Bankruptcy Protection
GM files for Chapter 11 bankruptcy. As part of the restructuring, the U.S. government agrees to provide the company up to $30.1 billion more. In exchange, the U.S. will receive a 60 percent stake in the company when it emerges from bankruptcy.More info from www.propublica.org
May 27, 2009 Debt Obligation w/ Additional Note
May 20, 2009 Debt Obligation w/ Additional Note
Apr. 22, 2009 Debt Obligation w/ Additional Note
Dec. 31, 2008 Debt Obligation w/ Warrants and Additional Note
Dec. 29, 2008 Debt Obligation
Dec. 19, 2008 Auto Bailout Announced
|12/15/2010||Dividend||$47,192,797||AIFP||Dividend - Cumulative|
|09/15/2010||Dividend||$47,192,797||AIFP||Dividend - Cumulative|
|07/15/2009||Interest||$143,526,108||AIFP||Total Interest Paid Thru 7-09|
|07/10/2009||Purchase||$7,072,488,605||AIFP||Debt Obligation w/ Additional Note, Equity Interest|
|06/03/2009||Loan||$23,027,511,395||AIFP||Debt Obligation, Equity Interest|
|05/27/2009||Loan||$360,624,198||AIFP||Debt Obligation w/ Additional Note|
|05/20/2009||Loan||$4,000,000,000||AIFP||Debt Obligation w/ Additional Note|
|04/22/2009||Loan||$2,000,000,000||AIFP||Debt Obligation w/ Additional Note|
|12/31/2008||Loan||$13,400,000,000||AIFP||Debt Obligation w/ Warrants and Additional Note|