Delphi gets $3 billion credit facility for purchase of interests

By Sara Rosenberg

New York, March 31 - Delphi Automotive LLP has obtained a $3 billion credit facility in connection with its purchase of class A interests owned by General Motors Co. for $3.8 billion and class C interests owned by the Pension Benefit Guaranty Corp. for $594 million, according to a news release.

J.P. Morgan Securities LLC is the lead bank on the credit facility.

Of the new credit facility amount, $2.5 billion was used to fund the purchase of interests, with the remaining funds coming from cash on hand.

These purchases fully retire the ownership shares acquired by General Motors and Pension Benefit Guaranty in connection with Delphi's acquisition by a group of private investors in October 2009.

Delphi is a Troy, Mich.-based supplier of electronics and technologies for automobiles, commercial and other vehicles.

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