By Cristal Cody
Prospect News, Nov. 17 - GE Capital Canada Funding Co. (Aa2/AA+/) priced C$500 million 3.35% five-year medium-term notes at 99.868 to yield 3.379% on Thursday, a bond source said.
The notes due Nov. 23, 2016 priced at a spread of 203.7 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. and TD Securities Inc. were the lead managers. BMO Capital Markets Corp., CIBC World Markets Inc. and Scotia Capital Inc. were the co-managers.
GE Capital Canada Funding last brought a bond deal on Feb. 1, 2011 with an C$850 million offering of three tranches of senior notes: C$250 million of floating-rate notes due Feb. 10, 2014 at a spread of three-month CDOR plus 82 bps; C$200 million of 2.95% notes due Feb. 10, 2014 at 110.6 bps over the government benchmark; and C$400 million of 4.4% notes due Feb. 8, 2018 at a 155 bps spread.
GE Capital Canada Funding is the Canadian financing arm for General Electric Co.
| Issuer: | GE Capital Canada Funding Co.
|
| Amount: | C$500 million
|
| Maturity: | Nov. 23, 2016
|
| Securities: | Medium-term notes
|
| Bookrunners: | RBC Capital Markets Corp., TD Securities Inc.
|
| Co-manager: | BMO Capital Markets Corp., CIBC World Markets Inc., Scotia Capital Inc.
|
| Coupon: | 3.35%
|
| Price: | 99.868
|
| Yield: | 3.379%
|
| Spread: | 203.7 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | Nov. 17
|
| Settlement date: | Nov. 23
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Distribution: | Canada
|
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