New Issue: GE Capital prices $2 billion 5.9% five-year notes at Treasuries plus 387.5 bps

By Andrea Heisinger

New York, May 6 - General Electric Capital Corp. sold $2 billion 5.9% five-year notes Wednesday without the umbrella of the Federal Deposit Insurance Corp., an informed source said.

The notes (Aa2/AA+/) priced at 99.889 to yield 5.926%, or Treasuries plus 387.5 basis points. This was tighter than talk that was in the 400 bps area, a market source said.

Bookrunners were Barclays Capital Inc., Credit Suisse Securities, Goldman Sachs & Co., HSBC Securities and Morgan Stanley & Co. Inc.

The financing unit of General Electric Co. is based in Fairfield, Conn.

Issuer:	General Electric Capital Corp.
Issue:	Notes
Amount:	$2 billion
Maturity:	May 13, 2014
Bookrunners:	Barclays Capital Inc., Credit Suisse Securities, Goldman Sachs & Co., HSBC Securities, Morgan Stanley & Co. Inc.
Coupon:	5.9%
Price:	99.889
Yield:	5.926%
Spread:	Treasuries plus 387.5 bps
Call:	Non-callable
Trade date:	May 6
Settlement date:	May 13
Ratings:	Moody's: Aa2
	Standard & Poor's: AA+
Price talk:	400 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.