The General Motors global headquarters in Detroit, Jan. 12, 2026.
Jeff Kowalsky | Bloomberg | Getty Images
DETROIT — General Motors has reached a unique, multibillion-dollar parts deal as it aims to preserve cash and prevent supply chain disruptions like ones that have hit the global automotive industry this decade.
In a public filing Tuesday, GM said the up to $4.5 billion revolving purchasing agreement includes a company called Procura Auto Parts that specializes in sourcing rare or critical parts. It will receive funding through a bank syndicate led by JPMorgan Chase and Banco Santander to prepay select suppliers on behalf of GM.
In return, GM will issue formal promises, or IPUs, to pay back the company after it uses the parts in production, no later than July 31, 2029.
GM pays interest, plus an agreed upon premium on what’s used, as well a customary annual fee on the unused portion during that year, according to the filing. For…
