By Andrea Heisinger
New York, Nov. 10 - General Electric Capital Corp. priced $1.5 billion of 3.75% five-year notes on Tuesday to yield 155 basis points over Treasuries, an informed source said.
The sale priced at the tight end of guidance of 155 to 157 bps, the source said. The deal was about two times oversubscribed with books around $3 billion.
The non-callable notes (Aa2/AA+/) priced at 99.604 to yield 3.838%.
Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities Inc. and Morgan Stanley & Co. ran the books.
The funding arm of General Electric is based in Fairfield, Conn.
| Issuer: | General Electric Capital Corp.
|
| Issue: | Notes
|
| Amount: | $1.5 billion
|
| Maturity: | Nov. 14, 2014
|
| Bookrunners: | Bank of America Merrill Lynch, Citigroup Global Markets Inc., Goldman Sachs & Co., J.P. Morgan Securities Inc., Morgan Stanley & Co.
|
| Coupon: | 3.75%
|
| Price: | 99.604
|
| Yield: | 3.838%
|
| Spread: | Treasuries plus 155 bps
|
| Call: | Non-callable
|
| Trade date: | Nov. 10
|
| Settlement date: | Nov. 16
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA+
|
| Price talk: | 155 to 157 bps
|
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