General Motors Acceptance Corporation of Canada Limited (GMACCL), along with a number of its affiliated GM finance companies around the world, renewed their Euro medium term note programme on October 14, 2002. The programme was originally established in the early 1990s and a revised offering circular is issued annually. Up to Euro 50 billion of notes may be issued in the aggregate by the participating GM finance companies, including GMACCL. The notes are unsecured debt securities, with the payment of principal and interest guaranteed by the companies’ U.S. parent, General Motors Acceptance Corporation.
General Motors Acceptance was represented by in-house counsel Martin Darvick. In Canada, in-house counsel Wende Rapson, GMACCL, instructed a team at Torys LLP including Jamie Scarlett, Glen Johnson and Jeremy Fraiberg (corporate) and Ann Marie McGovern (tax). The selling agents were represented by Sarah Beshar, Tobias Knapp and Lee Noriega (corporate) and Michael Mollerus (tax) of Davis Polk & Wardwell.