WASHINGTON, Sept 30 (Reuters) - General Motors' financing arm General Motors Acceptance Corp. filed with U.S. regulators on Tuesday to sell over time up to $15 billion worth of notes.
GMAC said it would use proceeds for general corporate purposes including adding to its general funds and to be available for the purchase of receivables, making loans or debt repayment, according to the Securities and Exchange Commission filing.
The "Smartnotes" will be due from nine months to 30 years from its date of issue, the company said.
Under such a filing, a company may sell securities from time to time in one or more separate offerings in amounts, at prices and on terms to be determined at the time of the sale.
GM shares traded up almost 1 percent, or 39 cents, to $41.01 on the New York Stock Exchange.