By Cristal Cody
Tupelo, Miss., May 28 - GE Capital Canada Funding Co. (A1) raised C$1.25 billion in two tranches of floating- and fixed-rate senior notes on Tuesday, according to an informed source.
In the first tranche, GE Capital Canada sold C$250 million of floating-rate notes due June 1, 2015 at par to yield 27 basis points over CDOR.
The C$1 billion tranche of 2.42% fixed-rate notes due May 31, 2018 priced at 99.995 to yield 2.421%, or a spread of 95 bps plus the Government of Canada benchmark.
The issue is guaranteed by General Electric Capital Corp.
RBC Capital Markets, TD Securities Inc. and BMO Capital Markets Corp. were the lead managers.
GE Capital Funding Canada is the Canadian financing arm for General Electric Co.
| Issuer: | GE Capital Canada Funding Co.
|
| Guarantor: | General Electric Capital Corp.
|
| Amount: | C$1.25 billion
|
| Securities: | Fixed- and floating-rate senior notes
|
| Bookrunners: | RBC Capital Markets, TD Securities Inc., BMO Capital Markets Corp.
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Rating: | Moody's: A1
|
| Distribution: | Canada
|
|
|
| Notes due 2015
|
| Amount: | C$250 million
|
| Maturity: | June 1, 2015
|
| Securities: | Floating-rate notes
|
| Coupon: | 27 bps over CDOR
|
| Price: | Par
|
| Yield: | 27 bps over CDOR
|
|
|
| Notes due 2018
|
| Amount: | C$1 billion
|
| Maturity: | May 31, 2018
|
| Securities: | Fixed-rate notes
|
| Coupon: | 2.42%
|
| Price: | 99.995
|
| Yield: | 2.421%
|
| Spread: | 95 bps over Government of Canada benchmark
|
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