By Andrea Heisinger
Omaha, Dec. 18 - General Electric Capital Corp. reopened its senior unsecured floating-rate notes due 2047 to add $52.799 million, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aaa/AAA) have a coupon of one month Libor minus 25 basis points and are priced at par.
Interest is payable monthly.
The notes are callable beginning Nov. 20, 2037 at 105, then at prices decreasing annually by 50 bps.
The notes are putable beginning Nov. 20, 2009 at 98, then at prices increasing annually by 25 bps until Nov. 20, 2017, when the notes are putable at par and annually thereafter to maturity.
This brings the total issuance to $220.229 million, including $167.43 million issued on Nov. 15, 2007.
Underwriters were UBS Securities LLC, Deutsche Bank Securities LLC, Merrill Lynch, Pierce, Fenner & Smith, Inc. and Morgan Stanley & Co. Inc.
The consumer and commercial financing arm of General Electric is based in Fairfield, Conn.
| Issuer: | General Electric Capital Corp.
|
| Issue: | Senior unsecured floating-rate notes
|
| Amount: | $52.799 million reopened
|
| Maturity: | Nov. 20, 2047
|
| Underwriters: | UBS Securities LLC, Deutsche Bank Securities LLC, Merrill Lynch, Pierce, Fenner & Smith, Inc., Morgan Stanley & Co. Inc.
|
| Coupon: | One-month Libor minus 25 bps
|
| Price: | Par
|
| Yield: | One-month Libor minus 25 bps
|
| Call: | Beginning Nov. 20, 2037 at 105, then at prices decreasing annually by 50 bps
|
| Put: | Beginning Nov. 20, 2009 at 98, then at prices increasing annually by 25 bps; at par on Nov. 20, 2017 and annually thereafter to maturity
|
| Trade date: | Dec. 17
|
| Settlement date: | Dec. 20
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Total issuance: | $220.229 million, including $167.43 million issued Nov. 15, 2007
|
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