May 26, 2016 / 8:56 PM / a year ago

BRIEF-GM announces $14.5 billion revolving credit facility

May 27 (Reuters) - GM:

* GM announces $14.5 billion revolving credit facility

* Says announced execution of revolving credit facility consisting of a $10.5 billion five-year facility and a $4.0 billion three-year facility

* GM says facility amends and extends GM's existing $12.5 billion revolving credit facility

* "larger revolver,along with $20 billion target cash,will provide appropriate liquidity to enable consistent investment in downturn"

* Reaffirmed capital allocation framework, including targets for cash of $20 billion,available liquidity of $30 to $35 billion to withstand "severe economic downturn"

* "buybacks executed under the company's common stock share repurchase program will continue to be funded with available free-cash-flow" Source text for Eikon: Further company coverage:

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