By Laura Lutz
Des Moines, Aug. 23 - General Electric Capital Corp. priced a $200 million add-on to its senior unsecured fixed-rate notes due Dec. 1, 2010 at 99.93 on Tuesday, bringing the total issue size to $1.2 billion.
The notes have a 5% coupon and were priced to yield 5.019%, or 93 basis points more than Treasuries. Interest is payable semi-annually.
The company priced $1 billion of the notes at 99.961 on April 25 to yield 5.01%, or 51.4 bps over Treasuries.
The notes are not callable.
Morgan Stanley & Co. Inc. is the underwriter for the add-on. Goldman, Sachs & co.; Lehman Brothers Inc.; Morgan Stanley & Co. Inc.; and Credit Suisse Securities were the underwriters for the original $1 billion issue.
General Electric Capital is the financing arm of General Electric Co.
| Issuer: | General Electric Capital Corp.
|
| Security description: | Senior unsecured fixed-rate global medium-term notes, series A
|
| Amount: | $200 million (brings issue size to $1.2 billion)
|
| Maturity: | Dec. 1, 2010
|
| Underwriter: | Morgan Stanley & Co. Inc.
|
| Coupon: | 5%
|
| Price: | 99.93
|
| Yield: | 5.019%
|
| Spread: | 93 bps
|
| Call: | Non-callable
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Trade date: | Aug. 21
|
| Settlement date: | Aug. 24 plus accrued interest from April 30
|
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